5 Year Holiday Let Fixed Rate Mortgage
RATES CORRECT AS AT 15 August 2024
Initial rate
5.69%
Fixed up to and inc. 30/11/2029
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
7.8%
APRC
Maximum loan to value
60%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Your rental property could be repossessed or a receiver of rent appointed, if you don't keep up your mortgage repayments.
Representative Example
A mortgage of £250,000.00 payable over 25 years initially on a fixed rate for 5 years at 5.69% and then on our current Buy to Let Variable Rate of 8.54% (variable) for the remaining 20 years would require 60 monthly payments of £1185.42 and 240 monthly payments of £1779.17.
The total amount payable would be £748,161.00 made up of the loan amount plus interest of £498,126.00 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 7.8% 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.
- 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 30 Nov 2029.
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
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.
