5.59% fixed until 31.01.2027.

Our Standard Variable Rate* for the remainder of the term, currently 8.10%.

8.0% APRC

Fees

Funds transfer fee - £20 (payable before completion)

Mortgage exit fee - £100 (payable when the mortgage is fully repaid)

Arrangement fee - £1,500 (Can be paid up front or added to the loan)

Standard Valuation Fee – (Amount varies dependent on the property value)

Incentives

None

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:

2% until 31.01.2027

Purchase or remortgage

Capital & Interest or Interest-Only

75%

Minimum £150,000 – Maximum £500,000

Portability

This product is portable and can be transferred from the existing property to a new property.

Adding fees

If the arrangement fee is added to the loan, it will attract interest increasing the total loan payable over the term of the mortgage.

Eligibility

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.

Affordability

For basic rate taxpayers, the projected rental income must be at least 125% of the mortgage payment at an assumed interest rate of 8.10%. This increases to 140% for higher rate taxpayers. 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 5.59% until 31.01.2027, and then on our Standard Variable Rate, currently 8.10%, for the remaining 16 years. The initial term would require 28 monthly payments of £797.68 followed by 188 monthly payments of £1,155.85.

The total amount payable would be £413,066.84, made up of the loan amount (£171,237.00), plus interest (£239,634.84), Arrangement Fee (£1,500), Standard Valuation Fee (£325), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 8.0% APRC.