Buy To Let Three Year Fixed Rate
Representing a Fixed Rate of 2.99% for the first three years, changing to our Buy to Let standard variable rate which is currently 5.49%
|4.9% APRC||(The overall cost for comparison)|
|Available for:||Purchase 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:||£2,795 (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|
|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.|
Rental coverage is 140%.
A mortgage of £450,000 payable over 20 years initially on a fixed rate for 3 years at 2.99% and then on our current Buy to Let Standard Variable Rate of 5.49% (variable) for the remaining 17 years would require 36 monthly payments of £2,493.44 and 204 monthly payments of £3,008.28 plus one initial interest payment of £1,142.75.
The total amount payable would be £708,205.71 made up of the loan amount plus interest (£254,595.71) and Arrangement Fee (£2,795), Valuation fee (£540), 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.