Mortgage product
information.
Residential 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.09% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 7.6% |
Standard rate | FIXED RATE of 5.09% until 28/02/2027 then reverting to 6.70% (Suffolk SVR minus 1.74%) until 31/05/2030 (please note this rate will not fall below 3%), then changing to Suffolk Standard Variable Rate (currently 8.44%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): For full details of our valuation fees, please contact us. |
Maximum loan | £2m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 28/02/2027 [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 £136,885.00 payable over 27 years initially on a fixed rate until 28/02/2027 at 5.09%, then on our Standard Variable Rate currently at 8.44% with a discount of 1.74%, giving a pay rate of 6.70% until 31/05/2030 (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 27 monthly payments of £783.93, followed by 39 monthly payments of £913.06, followed by 258 monthly payments of £1,048.63. The total amount payable would be £327,948.92 made up of the loan amount plus interest (£189,555.92), 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 7.6% APRC representative.