Mortgage product
information.
Shared Ownership 5 Year Fixed Rate – for purchase, remortgage or staircasing up to 95% LTV
| Mortgage details | |
|---|---|
Initial rate | 3.99% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 4.8% |
Standard rate | FIXED RATE of 3.99% for 60 months following completion date then reverting to Suffolk Standard Variable Rate (currently 5.24%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
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 £101,886.00 payable over 24 years initially on a fixed rate until 5 years from completion date at 3.99%, then on our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 60 monthly payments of £550.52, followed 228 monthly payments of £609.50. The total amount payable would be £172,092.20 made up of the loan amount plus interest (£70,062.20), a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 4.8% APRC representative.
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