The Buy to Let is currently awash with options so it would be easy to miss out on this gem.
Where this product is different is there is no extortionate lender fee attached to produce a good rental calculation.
As well as no lender arrangement fee the product also includes a free basic mortgage valuation and £250 cashback.
- Professional Landlords i.e. have 4 or more mortgaged buy-to-lets.
- First time landlords buying under a limited company with UK directors.
- Property to be let to a single family.
- Minimum earned income £25,000pa.
- Loan sizes:
75%LTV to £750k.
70%LTV to £1m.
65%LTV to £2m.
- Minimum loan £30k.
- Maximum mortgaged portfolio size £5m.
- Properties must have a minimum Energy Performance Certificate Rating of E, unless there is an applicable exemption.
- You or immediate family CANNOT have lived in the property i.e. Consumer Buy-to-let.
- England, Wales and Scotland.
|Initial Rate: 3.80%||Subsequent Rate: 4.80%|
|The overall cost for comparison 4.65% APRC|
|The total amount you must pay back, including the amount borrowed is £486,6141.04|
|Features: Remortgages. Free basic valuation and legal service.|
|Type and initial benefit period||Fixed for 5 years|
|Minimum deposit / equity||25%|
|Telegraphic transfer / CHAPS fee||£25|
|Lender Legal fee charged to your solicitor||FREE|
|Early repayment charge||5/5/4/4/3% of the amount repaid in the fixed period|
Any property used as security, which may include your home. may be repossessed if you do not keep up repayments on your mortgage
Residential and Buy to Let Mortgages
Rates current as at 29/1/19. The overall cost for comparison is based on an open market value of £300,000 over a 25 year term (unless otherwise stated). Large loan product exaplme is based on a property value of £800,000. Right-to-Buy product examples are based on a discounted purchase price of £200,000. Repayment for Residential and Interest only for Buy-to-let (unless otherwise specified). Eligibility will depend on your own personal circumstances.
KEY – ERC = Main early repayment charge.
The purpose of this web is for information only and is based on a fictitious illustrative scenario. It does not constitute a Mortgage Offer in any way.
It is essential that you seek independent mortgage advice as a suitable product will be based on your own individual circumstances. An interest rate should not be read in isolation, and you should refer to your personal key facts illustration and Mortgage Offers for full terms and conditions. If anything is unclear it should be discussed fully with both your mortgage and legal advisors before entering into a mortgage contract with the lender.
The information contained herein is based on research through the Trigold (IRESS UK) sourcing system. When first published to this site the data is normally 24 hours behind real time, and may or may not still be available.