Mortgage product
information.
Buy To Let Light Refurbishment 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.89% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 8.2% |
Standard rate | Fixed Rate of 5.89% until 31/03/2027, then changing to Suffolk Standard Variable Rate (currently 8.44%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: Remortgage – FREE CHAPS (Fee for transfer of funds to solicitor): For full details of our valuation fees, please contact us. |
Maximum loan | £1m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 31/03/2027 [Remortgage only: fee assisted legals] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £190,000.00 payable over 20 years on initially on a fixed rate until 31/03/2027 at 5.89%, then our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 28 monthly payments of £937.66, followed by 212 payments of £1,343.61. The total amount payable would be £502,607.80 made up of the loan amount plus interest (£311,099.80), an application fee of £199, a completion fee of £999, a valuation fee of £180, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 8.2% APRC representative.