|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|
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 email@example.com
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).
|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.|