1.75% Holiday Let Discount for Term

 

Interest Rates

3.74%

Representing a 1.75% discount off our Buy To Let Residential Standard Variable Rate which is currently 5.49% 

3.9% 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: 80% (including arrangement fee) 

Arrangement Fee: £750 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 80%)

Valuation Fee: Payable on application. See Valuation Fee leaflet

Application Fee: £125

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 can be repaid on a capital & interest 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
Representative Example

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.

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  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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