Mortgage product
information.
Shared Ownership 2 Year Fixed Rate – for purchase, remortgage or staircasing up to 95% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.60% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 8.1% |
Standard rate | FIXED RATE of 5.60% until 31/05/2026 then reverting to 6.95% (Suffolk SVR minus 1.74%) until 31/08/29 then changing to Suffolk Standard Variable Rate (currently 8.69%) for the remainder of the term |
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 | £500,000 |
Maximum LTV | 95% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 31/05/2026. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
For additional information on our mortgages, including outline lending criteria, information on valuation fees and more, take a look at our useful guide.
Representative example
A mortgage of £164,500.00 payable over 35 years initially on a fixed rate until 31/05/2026 at 5.60%, then on our Standard Variable Rate currently at 8.69% with a discount of 1.74%, giving a pay rate of 6.95% until 31/08/2029 (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 27 monthly payments of £899.82, followed by 39 monthly payments of £1,045.62, followed by 354 monthly payments of £1,234.09. The total amount payable would be £502,236.18 made up of the loan amount plus interest (£336,408.18), an application fee of £199, a completion fee of £999, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 8.1% APRC representative.
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