Landlords who are buying or remortgaging a property, have at least 25% deposit/equity and want fixed repayments for a set period.
Landlords who plan to repay more than 10% in the first 5 years or own the property with a Limited Company.
5.44% fixed until 31.10.2029.
Our Standard Variable Rate for the remainder of the term, currently 8.10%.
7.2% APRC
Funds transfer fee - £20 (payable before completion)
Mortgage exit fee - £100 (payable when the mortgage is fully repaid)
Standard Valuation Fee – (Amount varies dependent on the property value)
No arrangement fee.
A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year during the fixed period, will attract an early repayment charge of:
5% until 31.10.2025
4% until 31.10.2026
3% until 31.10.2027
2% until 31.10.2029
Purchase or remortgage
Capital & Interest or Interest-Only
75%
This product is portable and can be transferred from the existing property to a new property.
Property must be in England and Wales with a value of £200,000 or more.
Property must be owned in the personal name of the borrower.
Not available for HMO properties
Maximum portfolio 9 properties.
Mortgages are subject to underwriting.
The projected rental income must be at least 125% (or 145% for higher rate taxpayers) of the mortgage payment at the product interest rate. Personal income can be considered to top this up if there is a shortfall.
This information is to help you understand the typical cost of this mortgage and is not representative of your personal circumstances.
A mortgage of £171,237.00, payable over 18 years, on an interest-only repayment basis, initially on a fixed rate of 5.44% until 31.10.2029, and then on our Standard Variable Rate, currently 8.10%, for the remaining 13 years. The initial term would require 63 monthly payments of £776.27 followed by 153 monthly payments of £1,155.85.
The total amount payable would be £397,682.06, made up of the loan amount (£171,237.00), plus interest (£225,750.06), Standard Valuation Fee (£325), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).
The overall cost for comparison is 7.2% APRC.
If you haven’t registered with us already, please register online before submitting business with us. Once registered with us, you can register to our broker online services.
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Obtain a DIP before submitting an application. Attach an affordability calculator to your submission and we'll give you an initial decision based on the information provided.
DECISION IN PRINCIPLE
Once your registration has been confirmed, you'll be able to submit an application via our online broker portal. All documents required for the application are uploaded at this time.
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