2 Year Small HMO Fixed Rate Mortgage
RATES CORRECT AS AT 08 March 2022
Initial rate
3.25%
Fixed up to and inc. 31/07/2024
Then changing to the Society's BTL Variable Rate less a discount of 1.00%, (currently)
4.84%
Up to and inc. 31/07/2027
Then changing to the Society's BTL Variable Rate thereafter, (currently)
5.84%
For the remaining term of the mortgage
The overall cost for comparison is
5.0%
APRC
Maximum loan to value
60%
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 3.25% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.84% giving a rate of 4.84% for 3 years and then on our current Buy to Let Variable Rate of 5.84% for the remaining 20 years would require 24 monthly payments of £1119.88, 36 monthly payments of £1307.53 and 240 monthly payments of £1420.02.
The total amount payable would be £415,787.63 made up of the loan amount plus interest of £184,753.63 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 5.0% 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 £1,000,000.
- 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 31 Jul 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