Landlords who are buying or remortgaging a property, have at least 25% deposit/equity, want fixed repayments for a set period and own the property with a Limited Company.
Landlords who plan to repay more than 10% in any one year during the fixed period.
6.09% fixed until 31.03.2030.
Our Standard Variable Rate* for the remainder of the term, currently 8.10%.
7.5% APRC
Funds transfer fee - £20 (payable before completion)
Mortgage exit fee - £100 (payable when the mortgage is fully repaid)
Standard Valuation Fee – 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 31.03.2026
4% until 31.03.2027
3% until 31.03.2028
2% until 31.03.2030
Purchase or remortgage
Capital & Interest or Interest-Only
75%
Minimum £150,000 – Maximum £500,000
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 £250,000 or more.
Property must be owned through a Limited Company.
Not available for HMO properties.
Maximum portfolio 4 properties.
Mortgages are subject to underwriting.
The projected rental income must be at least 145% of the mortgage payment at the product interest rate.
This information is to help you understand the typical cost of this mortgage and is not representative of your personal circumstances.
A mortgage of £251,717.00, payable over 18 years, on an interest-only repayment basis, initially on a fixed rate of 6.09% until 31.03.2030, and then on our Standard Variable Rate, currently 8.10%, for the remaining 13 years. The initial term would require 64 monthly payments of £1,277.46 followed by 152 monthly payments of £1,699.09.
The total amount payable would be £592,511.12, made up of the loan amount (£251,717.00), plus interest (£340,019.12), Standard Valuation Fee (£405), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).
The overall cost for comparison is 7.5% 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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