Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
3.89% (SVR minus 1.35%)
STANDARD VARIABLE RATE of 5.24% with a discount of 1.35% until 2 years from completion date, then reverting to 4.24% (Suffolk SVR minus 1%) for 36 months then changing to Suffolk Standard Variable Rate (currently 5.24%)
CHAPS (Fee for transfer of funds to solicitor):
Fee free over-payments up to 50% of original loan. Early repayment charge of 2% applies until 2 years from completion
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
A mortgage of £330,000.00 payable over 25 years initially on our Standard Variable Rate currently at 5.24% with a discount of 1.35% for 24 months, giving a current rate payable of 3.89%, then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £1,727.28, followed by 36 monthly payments of £1787.19, followed by 240 monthly payments of £1,944.85. The total amount payable would be £573,141.56 made up of the loan amount plus interest (£241,523.56), an application fee of £199, a completion fee of £999, a valuation fee of £290, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 4.9% APRC representative.