Godiva Buy to Let Mortgage without early repayment charges and free valuation from 2.55%
The Godiva Buy to Let Mortgage without early repayment charges product is very attract to buy to let landlords as it provides them with the flexibility at a later stage to remortgage to release equity when the property value rises or to sell quickly if the opportunity presents itself. The product also appeals to clients who want to pay down their debt or take payment holidays when the property is in a period of being un-tenanted.
Initial Rate: 2.55% Subsequent:2.55% The overall cost for comparison is 2.7%
- Features: Variable rate for the duration of the loan. Payment holiday options
- Minimum deposit / equity: 35%
- Valuation fee: FREE
- Other main lender fees: Arrangement fee £1,749
- Early repayment charges: None
MY PRODUCT COMMENTS: Govida has consistently occupied the space for Buy to Let Mortgage without early repayment charges. The payment break option if used strategically might placate the need for rent guarantee insurance.
MY LENDER COMMENTS: Godiva are a subsidiary of Coventry Building Society so their underwriting is more strict than other lenders. I therefore suggest you call me first before looking to apply to make sure you meet with their underwriting terms.
For more information on our range Offset mortgage products please complete the enquiry form on this page or call us on 020 7993 2044.
Rates current as at 19/12/14. The overall cost for comparison is based on a property value of £250,000 over a 25 year term. Repayment for Residential and Interest only for Buy-to-let. The product is based on a property in England (but may also be available in other countries). Eligibility will depend on your own personal circumstances.
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.
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Your Home is at Risk if you do not keep up with your mortgage repayments.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines.