Buy To Let Standard Variable Rate
|5.49%||The Society's current buy to let standard variable rate for the term of the mortgage with an Early Repayment Charge.|
|5.7% APRC||(The overall cost for comparison)|
|Available for:||Purchase and Remortgage|
|Min/Max Adv||£25,000/ £500,000 (min £5,000 for further advance)|
|Max Loan To Value:||70%|
|Valuation Fee:||Payable on application. See Valuation Fee leaflet|
|Early Repayment Charge (ERC):||3% in the first three years|
|Overpayments:||10% of the advance amount can be repaid per annum for three years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum.|
|Restrictions:||The mortgage must be repaid on either a capital & interest or interest only basis.|
|Other Features:||Rental coverage is 140%,|
A mortgage of £68,000 payable over 15 years on the Society’s Buy to Let Standard Variable Rate for the mortgage term of 15 years at our current rate of 5.49% (variable) would require 180 monthly payments of £555.26 plus one initial interest payment of £316.07.
The total amount payable would be £100,727.87 made up of the loan amount plus interest (£32,262.87) and Valuation fee (£190), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 5.7% APRC representative.
- 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.