2 Year Buy To Let Mortgage - Remortgage only
RATES CORRECT AS AT 23 Jun 2017
Fixed up to and inc. 31/08/2019
Then changing to the Society's BTL Variable Rate less a discount of 1.00%, up to and inc. 31/08/2022 (currently)
Then changing to 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 £242,000.00 payable over 25 years initially on a fixed rate for 2 years at 1.50% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.74% for 3 years and then on our current Buy to Let Variable Rate of 5.74% for the remaining 20 years would require 24 monthly payments of £302.50, 36 monthly payments of £955.90 and 240 monthly payments of £1,157.57.
The total amount payable would be £564,022.40 made up of the loan amount plus interest of £319,488.40 and application fee £0, product fee £2499, valuation fee £0.
The overall cost for comparisons is 4.9% 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.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 31 Aug 2019.
- Free standard valuation up to £999.
- Fees assisted legal services for standard re-mortgages (not available for Homes of Multiple Occupancy)
- Maximum loan £500,000.
- Interest calculated daily.
- This product is available for remortgage only
|Application Fee (payable on application - non-refundable)||£0|
|Product Fee (payable on application - this is refundable should the mortgage not complete)||£2499|
|Mortgage Exit Fee||£199|