Buy to Let 2 Year Discount

Maximum Loan to Value (LTV) 75% LTV
Initial Variable Interest Rate, currently: 2.99% (2.25% discount from our Standard Variable Rate for 2 years. The discount is subject to a minimum interest rate “floor” of 2.00%).
Followed by our Standard Variable Rate thereafter, currently: 5.24% (The Society’s Standard Variable Rate is set by its Board of Directors).
The Overall Cost for Comparison is: 5.1% APRC
Interest Calculated: Daily

Minimum – 21 years
Maximum – No Maximum Age Limit

Minimum – 2 years
Maximum – 40 years

Minimum Loan £75,000

Maximum Loan £350,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)

Available to customers who will own no more than 3 Buy-to-Let properties upon approval of application for this mortgage and intend to use the property for investment purposes only. Further Buy-to-Let lending criteria applies. For full details please contact our experienced underwriters on 01257 235 001 – Option 2 or at

Applicants must have a minimum gross annual income of £20,000 (single applicants) and £25,000 (joint applications).  Our decision to lend is based on your client(s) meeting minimum income requirements and Income Coverage Ratios (ICRs).

  • Basic rate tax payers – rental yield must cover 125% of the mortgage interest payment when stress tested at the higher of 5.50% or the mortgage interest rate plus 2.00%.
  • Higher and additional rate tax payers – rental yield must cover 148% of the mortgage interest payment when stress tested at the higher of 5.50% or the mortgage interest rate plus 2.00%
Application Fee No Application Fee
Scheme Fee 0.75% of the loan (can be added to the loan, subject to LTV, or paid on completion.

Fees added to the loan will accrue interest. Further details are available on application).

Mortgage Exit Administration Fee £75 (paid on redemption).
Valuation Fee Paid directly to valuer by the applicant – see Valuation Fee Scale for details. A standard mortgage valuation is required on all properties.
Procuration Fee A Procuration Fee will be paid by the Society upon completion of the mortgage. Please refer to your mortgage broker for details.
Early Repayment Charge 2.25% of the redemption balance for 2 years
Overpayments The Society will allow overpayments of up to 10% of the capital balance per annum without invoking an early repayment charge.
Portability You cannot keep this mortgage should you move to a new property. This mortgage is not portable.
Insurance Landlords insurance on the property to be mortgaged is compulsory.