Mortgage product
information.
Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 3.89% (SVR minus 1.65%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 5.2% |
Standard rate | STANDARD VARIABLE RATE of 5.54% with a discount of 1.65% until 2 years from completion date, then reverting to 4.54% (Suffolk SVR minus 1%) for 36 months then changing to Suffolk Standard Variable Rate (currently 5.54%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): 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 £475,000.00 payable over 25 years on our Standard Variable Rate currently at 5.54% with a discount of 1.65%, giving a current rate payable of 3.89% for 24 months, then on our Standard Variable Rate currently at 5.54% with a discount of 1.00%, giving a rate payable of 4.54% 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 5.54% for the remainder of the mortgage term. This would require 24 monthly payments of £2,483.86, followed by 36 payments of £2,645.42, followed by 240 payments of £2,875.74. The total amount payable would be £845,689.36 made up of the loan amount plus interest (£368,991.36), a mortgage funds release fee of £35, an application fee of £199, a completion fee of £999, a valuation fee of £370 and a mortgage exit fee of £95. The overall cost for comparison is 5.2% APRC representative.