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 any one year during the fixed period or own the property with a Limited Company.
5.74% fixed until 31.03.2030.
Our Standard Variable Rate* for the remainder of the term, currently 8.10%.
7.4% 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 31.03.2026
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 in the personal name of the borrower.
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 £223,082.00, payable over 20 years, on an interest-only repayment basis, initially on a fixed rate of 5.74% until 31.03.2030, and then on our Standard Variable Rate, currently 8.10%, for the remaining 15 years. The initial term would require 64 monthly payments of £1,067.08 followed by 176 monthly payments of £1,505.80.
The total amount payable would be £557,130.92, made up of the loan amount (£223,082.00), plus interest (£333,313.92), Standard Valuation Fee (£365), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).
The overall cost for comparison is 7.4% APRC.
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