Buy to Let Mortgage
| Product | Fee | Initial rate | Then changing to | The overall rate for comparison |
|---|---|---|---|---|
|
0.5% discount for 3 years (up to 75% LTV) |
£0 | 4.69% variable for 3 years (our SVR minus 0.5% discount) |
Standard variable rate currently 5.19% | 5.2% APR |
Interest rates applicable on 14 January 2012
It should be noted that if the property is empty or needs essential repairs, you are still required to make the full monthly mortgage repayments.
The loan is based solely on the rental income derived from the letting. Therefore the conditions of the property must be satisfactory requiring no essential items of repair.
Benefits
- Keep your repayments low for three years.
- No early repayment charge will be incurred in respect of capital repayments of up to 10% made in any 12 month period (from the date of transfer) calculated on the transfer loan amount during the product period.
Points to note
- Maximum loan to value 75% (including any fees added to the loan).
- An early repayment charge of 3% applies within the first 3 years.
- Minimum loan £20,000.
- Maximum loan £500,000.
- A sealing fee/administration fee is payable on redemption, as stated on your original mortgage offer, and will be a maximum of £175.
Other important information
Click to read our terms and conditions
Available for
Investment property only.
Please Note
Before investing in the residential lettings market there are many costs and risks to be considered and appropriate professional advice should be obtained. The society's provision of Buy to Let funding does not endorse the viability of any residential property investment.
Your investment property may be repossessed if you do not keep up repayments on this mortgage
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