This is a fixed rate mortgage product which means monthly payments will not go up or down during the term of the fixed period. This is different to a discount rate product. The rate of interest is not linked to the Society’s Standard Variable Rate (SVR) for mortgages. During the first 3 years the interest rate charged will be fixed at 5.90%.

Three months before this product ends, we will contact you with the options available. If you do nothing at the end of the product period, you will move to the Society’s SVR which may mean your payments increase.

This product is available on:

• A Capital & Interest repayment basis. This means your monthly repayments will contribute to paying back the initial loan as well as the monthly interest on the remaining balance. Over time, this will mean the amount owed will reduce and the interest will also reduce.

• An Interest-Only repayment basis. This means that your monthly repayments will only pay back the interest on your initial loan amount. The capital balance will not reduce. You will need to agree with us up front, a suitable method of repaying the initial loan at the end of the mortgage term.

This product is available for properties in England and Wales.

There is a non-refundable fee payable for setting up this mortgage of £1,500.

This product is available for loans of at least £150,000 and up to £500,000.

This loan will be assessed using projected rental income and personal income where required.

The product requires the borrower to have no more than 3 properties in their existing portfolio.

This product is designed for customers wanting a buy to let mortgage in their personal name who:

• are looking to purchase or remortgage a property.

• have at least a 25% deposit/equity in their property.

• are happy to fix their payments now and have certainty that payments will not change until the end of the fixed period.

• do not intend to make overpayments of more than 10% in any of the first 3 years.

This product is not intended for customers who:

• want their monthly payments to change with the Society's SVR for the term of the product.

• plan to repay more than 10% of the loan in any year within the first 3 years as this will result in a charge.

Being a mutual building society, all our products are priced to balance the needs of our Member savers and borrowers and the Society’s operating costs to support the Society’s long-term future.

We support our mortgage customers by providing each applicant with a bespoke, personal, and individual approach. We largely deal with people whose circumstances do not fit into the standard requirements of automated decision-making processes used by larger lenders.

We believe this product represents fair value for the customers it was designed for considering the customer support provided before, during and after the application.