Mortgage product
information.
Expat Holiday Let 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.89% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 7.8% |
Standard rate | FIXED RATE of 5.89% until 5 years following completion date, 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 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 £90,000 payable over 25 years initially on a fixed rate until 5 years from completion date at 5.89%, then on our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 60 monthly payments of £583.62, followed by 240 payments of £710.08. The total amount payable would be £205,855.40 made up of the loan amount plus interest (£113,902.40), an application fee of £199, a completion fee of £1,499, a valuation fee of £125, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.8% 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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