2 Year Holiday Let Fixed Rate Mortgage
RATES CORRECT AS AT 12 April 2024
Initial rate
6.45%
Fixed up to and inc. 31/07/2026
Then changing to the Society's BTL Variable Rate less a discount of 1%, (currently)
7.54%
Up to and inc. 31/07/2029
Then changing to the Society's BTL Variable Rate thereafter, (currently)
8.54%
For the remaining term of the mortgage
The overall cost for comparison is
8.3%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £200,000.00 payable over 25 years initially on a fixed rate for 2 years at 6.45% and then a 1% discount on our current Buy to Let Variable Rate of 8.54% giving a rate of 7.54% for 3 years and then on our current Buy to Let Variable Rate of 8.54% for the remaining 20 years would require 24 monthly payments of £1075.00, 36 monthly payments of £1256.67 and 240 monthly payments of £1423.33.
The total amount payable would be £612,674.32 made up of the loan amount plus interest of £412,639.32 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 8.3% 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.
- The Society will assist in covering the basic legal costs of a standard re-mortgage.
- 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 2026.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£0
Mortgage Exit Fee
£199