2.20% Discount for Term Holiday Let Further Advance

Main Features

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% of current balance 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 may be repaid on a capital & interest, interest only or part & part basis.

Other Features: N/A

Please note that we will consider the following:

Guarantor mortgages (max 75% LTV)
Self-employed applicants with only 1 year's accounts (Max 75% LTV)
Joint borrower, sole proprietor (up to product LTV limit)

Representative Example

A mortgage of £91,892.00 payable over 17 years on our discounted rate at 2.20% below the Society’s BTL Standard Variable Rate of 9.24% (variable) for the mortgage term of 17 years would require 204 monthly payments of £773.70 plus one initial interest payment of £531.71.

The total amount payable would be £158,621.51 made up of the loan amount plus interest (£66,474.51) and Revaluation fee (£150), CHAPS fee (£25) and Application fee (£80).

The overall cost for comparison is 7.4% APRC representative.

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