Mortgage product
information.
Shared Ownership 5 Year Fixed Rate – for purchase, remortgage or staircasing up to 95% LTV
| Mortgage details | |
|---|---|
Initial rate | 3.89% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 5.2% |
Standard rate | FIXED RATE of 3.89% for 60 months following completion date then reverting to Suffolk Standard Variable Rate (currently 5.54%) 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 5% applies until 5 years from completion. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £116,250.00 payable over 40 years initially on a fixed rate until 5 years from completion date at 3.89%, then on our Standard Variable Rate currently at 5.54% for the remainder of the mortgage term. This would require 60 monthly payments of £478.07, followed by 420 monthly payments of £591.45. The total amount payable would be £277,387.20 made up of the loan amount plus interest (£160,808.20), an application fee of £199, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 5.2% APRC representative.
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