Mortgage product
information.
Expat Holiday Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.79% (SVR minus 2.65%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 8.1% |
Standard rate | STANDARD VARIABLE RATE of 8.44% with a discount of 2.65% until 2 years from completion, then changing to Suffolk Standard Variable Rate (currently 8.44%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee applies 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 1% until 2 years from completion. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative Example
A mortgage of £353,799.00 payable over 16 years on our Standard Variable Rate currently at 8.44% with a discount of 2.65%, giving a current rate payable of 5.79% for 24 months, then on our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 24 monthly payments of £2,842.59, followed by 168 payments of £3,320.64. The total amount payable would be £626,673.68 made up of the loan amount plus interest (£270,756.68), an application fee of £199, a completion fee of £1,499, a valuation fee of £290, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 8.1% APRC representative.
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Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
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