No ERC 2 Year Buy to Let Tracker Rate Mortgage
RATES CORRECT AS AT 05 Jul 2019
Initial variable rate is BoE base rate (currently 0.75%) plus 1.33%, (currently)
Up to and inc. 31/10/2021
Then changing to the Society's BTL Variable Rate less a discount of 1.00% (currently)
Up to and inc. 31/10/2024
Then the Society's BTL Variable Rate thereafter, (currently)
For the remaining term of the mortgage
The overall cost for comparison is
Maximum loan to value
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
A mortgage of £200,000.00 payable over 25 years initially on a tracker rate for 2 years at 1.33% above the UKBBR (currently 2.08%) and then a 1.00% discount on our current Buy to Let Variable Rate of 5.99% for 3 years and then on our current BVR of 5.99% for the remaining 20 years would require 24 monthly payments of £346.67 and 36 monthly payments of £831.67 and 240 payments of £998.33.
The total amount payable would be £479,894.00 made up of the loan amount plus interest of £277,860.00 and application fee £0, product fee £1999, valuation fee £0, chaps fee £35.
The overall cost for comparison is 5.5% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
- No Early Repayment Charges (ERCs) apply.
- Unlimited capital repayments are allowed.
- Free standard valuation up to £999.
- Fees assisted legal services for standard re-mortgages.
- Maximum loan £500,000.
- Interest calculated daily.
|Application Fee (payable on application - non-refundable)||£0|
|Product Fee (payable on application - this is refundable should the mortgage not complete)||£1999|
|Mortgage Exit Fee||£199|