2.85% Holiday Let Discount for Term
Interest Rates
6.39%
Representing a 2.85% discount off our Buy-to-Let Standard Variable Rate which is currently 9.24%
6.8% APRC
(The overall cost for comparison)
Main Features
Available for: Purchase and Remortgage
Min/Max Adv: £25,000/£1,000,000
Max Loan To Value: 60% (including arrangement fee)
Arrangement Fee: £750 (if the arrangement fee is added to the loan; the loan to value must not exceed the maximum permitted)
Valuation Fee: Payable on application. See Valuation Fee leaflet.
Application Fee: £125
Early Repayment Charge (ERC): 1% of the current balance for the first year and 0.5% for the second year
Overpayments: 10% of the advance amount can be repaid per annum for the first two years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 10% per annum for the first year and 0.5% charge is due on any amount that exceeds 10% per annum in the second year
Restrictions: This mortgage must be repaid on a capital & interest, interest only or part & part basis. Interest only repayment has a maximum LTV of 60%.
Other Features: N/A
Please note that we will consider the following:
- Guarantor mortgages (Max 60% LTV)
- Self-employed applicants with only 1 year's accounts (Max 60% LTV)
- Joint borrower, sole proprietor (up to product LTV limit)
Representative Example
A mortgage of £134,242.00 payable over 17 years on our discounted rate at 2.85% below the Society’s Buy-to-Let Standard Variable Rate of 9.24% (variable) for the mortgage term of 17 years would require 204 monthly payments of £1,080.53 plus one initial interest payment of £728.55.
The total amount payable would be £222,421.67 made up of the loan amount plus interest (£86,914.67) and Arrangement Fee (£750), Valuation Fee (£240), CHAPS fee (£25), Application fee (£125) and Discharge fee (£125).
The overall cost for comparison is 6.8% APRC representative.
Additional Notes
- 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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