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Mortgage product
information.

Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV

Mortgage details

Initial rate

6.19% (SVR minus 2.50%)

Rate Type

Variable

Rate Term

2 year

APRC

8.5%

Standard rate

STANDARD VARIABLE RATE of 8.69% with a discount of 2.50% until 2 years from completion date, then reverting to 7.69% (Suffolk SVR minus 1%) for 36 months (please note this rate will not fall below 3%), then changing to Suffolk Standard Variable Rate (currently 8.69%)

Fees

Application Fee:
£199

Completion Fee:
£1,499

Valuation Fee:
Based on property valuation

CHAPS (Fee for transfer of funds to solicitor):
£35

You can see how our fees are calculated by clicking here

Maximum loan

£1m

Maximum LTV

80%

Additional information

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

Representative example

A mortgage of £105,000.00 payable over 35 years on our Standard Variable Rate currently at 8.69% with a discount of 2.50%, giving a current rate payable of 6.19% for 24 months, then on our Standard Variable Rate currently at 8.69% with a discount of 1.00%, giving a rate payable of 7.69% for 36 months (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 8.69% for the remainder of the mortgage term. This would require 24 monthly payments of £621.10, followed by 36 payments of £729.12, followed by 360 payments of £800.97. The total amount payable would be £329,922.92 made up of the loan amount plus interest (£222,969.92), a mortgage funds release fee of £35, an application fee of £199, a completion fee of £1,499, a valuation fee of £125 and a mortgage exit fee of £95. The overall cost for comparison is 8.5% APRC representative.

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