1.75% Holiday Let Discount for Term
Representing a 1.75% discount off our Buy To Let Residential Standard Variable Rate which is currently 5.49%
(The overall cost for comparison)
Available for: Purchase and Remortgage
Min/Max Adv: £25,000/£500,000
Max Loan To Value: 70% (including arrangement fee)
Arrangement Fee: £750 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 70%)
Valuation Fee: Payable on application. See Valuation Fee leaflet.
Application Fee: £125
Early Repayment Charge (ERC): 3% in the first two years
Overpayments: 20% of the advance amount can be repaid per annum for two years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 20% per annum
Restrictions: This mortgage can be repaid on a capital & interest basis or interest only basis.
Other Features: N/A
A mortgage of £124,445 payable over 25 years on our discounted rate at 1.75% below the Society’s Buy to Let Standard Variable Rate of 5.49% (variable) for the mortgage term of 25 years would require 300 monthly payments of £639.13 plus one initial interest payment amount of £395.29..
The total amount payable would be £193,399.29 made up of the loan amount plus interest (£67,689.29) and Arrangement fee (£750), Valuation fee (£240), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 3.9% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE