Mortgage product
information.
Holiday Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.54% (SVR minus 2.90%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.9% |
Standard rate | STANDARD VARIABLE RATE of 8.44% with a discount of 2.90% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 8.44%) |
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 1% applies until 2 years from completion [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 £353,799.00 payable over 16 years on our Standard Variable Rate currently at 8.44% with a discount of 2.90%, giving a current rate payable of 5.54% 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 £2,790.61, followed by 168 payments of £3,310.16. The total amount payable would be £623,650.83 made up of the loan amount plus interest (£268,248.83), an application fee of £199, a completion fee of £999, a valuation fee of £275, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.9% APRC representative.