Buy To Let Five Year Discount Rate
Representing a 2.15% discount off our BTL standard variable rate for the first five years, changing to our BTL standard variable rate which is currently 5.49%
|4.9% APRC||(The overall cost for comparison)|
|Available for:||Remortgage Only|
|Min/Max Adv||£25,000/ £1,000,000 (min £5,000 for further advance)|
|Max Loan To Value:||70% (including arrangement fee)|
|Arrangement Fee:||£1,995 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 70%).|
|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.|
The mortgage must be repaid on either a capital & interest or interest only basis.
Rental coverage is 140%
A mortgage of £112,000 payable over 23 years initially on our discounted rate at 2.15% below the Society’s Buy to Let Standard Variable Rate for 5 years and then reverting to our current Buy to Let Standard Variable Rate of 5.49% (variable) for the remaining 18 years would require 60 monthly payments of £581.96 and 216 monthly payments of £688.77 plus one initial interest payment of £317.71.
The total amount payable would be £186,279.63 made up of the loan amount plus interest (£72,009.63) and Arrangement fee (£1,995), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.9% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.