Mortgage product
information.
Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.95% (SVR minus 2.34%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.8% |
Standard rate | STANDARD VARIABLE RATE of 8.29% with a discount of 2.34% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 8.29%) 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 | £1m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 2% applies 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 £120,000.00 payable over 11 years on our Standard Variable Rate currently at 8.29% with a discount of 2.34%, giving a current rate payable of 5.95% for 24 months, followed by our Standard Variable Rate currently at 8.29% for the remainder of the mortgage term. This would require 24 monthly payments of £1,256.85, followed by 108 payments of £1,381.53. The total amount payable would be £179,843.42 made up of the loan amount plus interest (£57,835.42), a mortgage funds release fee of £35, an application fee of £199, a completion fee of £1,499, a valuation fee of £180 and a mortgage exit fee of £95. The overall cost for comparison is 7.8% APRC representative.