Legal Assisted 2 Year Buy To Let Tracker Rate Mortgage
RATES CORRECT AS AT 02 November 2023
Initial variable rate is BoE base rate (currently 5.25%) + 0.55%, which would currently give a rate payable of
Up to and including
Then changing to the Society's BTL Variable Rate less a discount of 1.00%, (currently)
Up to and inc. 28/02/2026
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.
Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A mortgage of £125,000.00 payable over 25 years initially on a tracker rate for 2 years at 0.55% above the Bank of England Base rate (currently 5.80%) and then a 1.00% 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 £604.17, 36 monthly payments of £785.42, 240 monthly payments of £889.58.
The total amount payable would be £382,309.00 made up of the loan amount plus interest of £256,275.00 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 8.1% APRC representative.
During the fixed term, the interest rate won’t go under 0.50%, even if the Bank of England base rate drops below this. This is sometimes referred to as an interest rate ‘floor’.
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.
- During the fixed term, the interest rate won't go under 0.50%, even if the Bank of England base rate drops below this. This is sometimes referred to as an interest rate 'floor'.
- Interest calculated daily.
- The Society will assist in covering the basic legal costs of a standard re-mortgage.
- Free standard valuation up to £999 .
- Unlimited capital repayments are allowed.
- No Early Repayment Charges apply.
Application Fee (payable on application - non-refundable)
Product Fee (payable on application - this is refundable should the mortgage not complete)
Mortgage Exit Fee
Like the sound of this mortgage?
For the time being, you won't be able to apply for a mortgage online. You can still book a non-advised appointment where our Buy to Let specialist will help you with your mortgage application.
The products and services on this site are available to UK residents only. Mortgage applicants must be 18 years or over. Mortgages are subject to eligibility, status and financial standing.
Buy to Let mortgages which are for business purposes are exempt from FCA Rules.
Our mortgage calculators
Get an idea of how much you could borrow, based on your income and spending.
Work out how much you'd need to pay each month towards your mortgage.