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Mortgage product
information.

Shared Ownership 2 Year Fixed Rate – for purchase, remortgage or staircasing up to 95% LTV

Mortgage details

Initial rate

3.74%

Rate Type

Fixed

Rate Term

2 year

APRC

4.6%

Standard rate

FIXED RATE of 3.74% until 30/11/2023 then reverting to 3.50% (Suffolk SVR minus 1.74%) until 28/02/27 then changing to Suffolk Standard Variable Rate (currently 5.24%) for the remainder of the term

Fees

Application Fee:
Free

Completion Fee:
Free

Valuation Fee:
N/A

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

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 30/11/2023.

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 £101,886.00 payable over 24 years initially on a fixed rate until 30/11/2023 at 3.74%, then on our Standard Variable Rate with a discount of 1.74% until 28/02/2027. This will be followed by our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 26 monthly payments of £536.68, followed by 39 monthly payments of £524.57, followed by 223 monthly payments of £603.58. The total amount payable would be £169,105.25 made up of the loan amount plus interest (£67,089.25), a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 4.6% APRC representative.

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