2.20% Discount for Term Holiday Let
Representing a 2.20% discount off our Buy to Let variable rate for the mortgage term which is currently 6.24%.
(The overall cost for comparison)
Available for: Holiday Let Further Advances Only
Min/Max Adv: £5,000/£1,000,000
Max Loan To Value: 80%
Arrangement Fee: N/A
Valuation Fee: A revaluation fee of £150 may be applicable.
Application Fee: £80
Early Repayment Charge (ERC): 1% in the first year and 0.5% for the second year
Overpayments: 20% of the advance amount can be repaid per annum for two years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 20% per annum for the first year and a 0.5% charge is due on any amount repaid that exceeds 20% per annum for the second year
Restrictions: The mortgage must be repaid on a capital & interest basis or interest only basis.
Other Features: N/A
Please note that we will consider the following:
- Guarantor mortgages (max 80% LTV)
- Self-employed applicants with only 1 year's accounts (Max 80% LTV)
- Joint borrower, sole proprietor
A mortgage of £60,000 payable over 14 years on our discounted rate at 2.20% below the Society’s Buy to Let Standard Variable Rate of 6.24% (variable) for the mortgage term of 14 years would require 168 monthly payments of £468.20 plus one initial interest payment amount of £205.87.
The total amount payable would be £79,118.47 made up of the loan amount plus interest (£18,863.47) and Revaluation fee (£150), CHAPS fee (£25) and Application Fee (£80).
The overall cost for comparison is 4.2% APRC representative.
- This mortgage summary should be read in conjunction with the Terms and Conditions.
- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion
- Fees and rates may vary according to the individual case. Fees and rates will be confirmed upon application.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE