2.25% BTL Discount for Term Further Advance
Representing a 2.25% discount off our BTL Standard Variable Rate which is currently 5.49%
(The overall cost for comparison)
Available for: Buy to Let Further Advances Only
Min/Max Adv: £5,000/£1,000,000
Max Loan To Value: 70%
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 3 years
Overpayments: 10% of the advance amount can be repaid per annum for three years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 10% per annum
Restrictions: This mortgage must be repaid on a capital & interest basis or interest only basis.
Other Features: N/A
A mortgage of £20,000 payable over 17 years initially on our discounted rate at 2.25% below the Society's BTL Standard Variable Rate of 5.49% for the mortgage term of 17 years would require 204 monthly payments of £127.63 plus one initial interest payment of £55.04.
The total amount payable would be £26,346.56 made up of the loan amount plus interest (£6,091.56) and Revaluation Fee (£150), CHAPS fee (£25) and Application Fee (£80).
The overall cost for comparison is 3.5% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE