Please note:

2 Year Small HMO Fixed Rate Mortgage

RATES CORRECT AS AT 02 November 2021

Initial rate
3.39%
Fixed up to and inc. 29/02/2024

Then changing to the Society's BTL Variable Rate less a discount of 1.00%, (currently)
4.59%
Up to and inc. 28/02/2027

Then changing to the Society's BTL Variable Rate thereafter, (currently)
5.59%
For the remaining term of the mortgage

The overall cost for comparison is
5.1%
APRC

Maximum loan to value
75%

FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.

Representative Example

A mortgage of £230,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.39% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.59% giving a rate of 4.59% for 3 years and then on our current Buy to Let Variable Rate of 5.59% for the remaining 20 years would require 24 monthly payments of £1136.92, 36 monthly payments of £1278.29 and 240 monthly payments of £1389.36.

The total amount payable would be £407,785.69 made up of the loan amount plus interest of £176,751.69 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 5.1% 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.

Additional features

  • Interest calculated daily.
  • Maximum loan £750,000.
  • Available for properties housing up to and including 6 occupants.
  • Free standard valuation up to £999 .
  • 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 29 Feb 2024.

Fees

Application Fee (payable on application - non-refundable)

£0

Product Fee (payable on application - this is refundable should the mortgage not complete)

£999

Mortgage Exit Fee

£199

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Buy to Let mortgages which are for business purposes are exempt from FCA Rules.