(BT82) 5.39% fixed to 31.01.2030 Buy to Let Personal Applicant

Designed for:

Landlords who are buying or remortgaging a property, have at least 25% deposit/equity and want fixed repayments for a set period.


Not designed for:

Landlords who plan to repay more than 10% in any one year during the fixed period or own the property with a Limited Company.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

(BT82) 5.39% fixed to 31.01.2030 Buy to Let Personal Applicant

Initial rate

5.39%

Subsequent Rate (SVR)

8.10%

Overall cost for comparison

7.20% APRC

Maximum loan to value (LTV)

75%

Incentives

None

Arrangement Fee

None

Early repayment charge

Yes

Product Summary

Initial Rate

5.39% fixed until 31.01.2030.

Followed by:

Our Standard Variable Rate* for the remainder of the term, currently 8.10%.

Overall cost for comparison*

7.2% APRC

Fees & Incentives
Fees
 

Funds transfer fee - £20 (payable before completion)

Mortgage exit fee - £100 (payable when the mortgage is fully repaid)

Standard Valuation Fee – (Amount varies dependent on the property value)

 
Incentives

No arrangement fee.

Early Repayment Charge

A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year during the fixed period, will attract an early repayment charge of:

5% until 31.01.2026

4% until 31.01.2027

3% until 31.01.2028

2% until 31.01.2030

Loan Purpose

Purchase or remortgage

Repayment Method

Capital & Interest or Interest-Only

Maximum Loan to Value (LTV*)

75%

Loan Size

Minimum £150,000 – Maximum £500,000

Product Information
Portability
 

This product is portable and can be transferred from the existing property to a new property.

 
Eligibility

Property must be in England and Wales with a value of £200,000 or more.

Property must be owned in the personal name of the borrower.

Not available for HMO properties

Maximum portfolio 9 properties.

Mortgages are subject to underwriting.

 
Affordability

For basic rate taxpayers, the projected rental income must be at least 125% of the mortgage payment at an assumed interest rate of 8.10%. This increases to 140% for higher rate taxpayers. Personal income can be considered to top this up if there is a shortfall.

Representative Example

This information is to help you understand the typical cost of this mortgage and is not representative of your personal circumstances.

A mortgage of £171,237.00, payable over 18 years, on an interest-only repayment basis, initially on a fixed rate of 5.39% until 31.01.2030, and then on our Standard Variable Rate, currently 8.10%, for the remaining 13 years. The initial term would require 64 monthly payments of £769.14 followed by 152 monthly payments of £1,155.85.

The total amount payable would be £396,846.16, made up of the loan amount (£171,237.00), plus interest (£224,914.16), Standard Valuation Fee (£325), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 7.2% APRC.

*Important Notes:

Once the product matures the interest rate will revert to our Standard Variable Rate (SVR) unless a new product is taken out. Our SVR is currently 8.10%. This is set by us and may go up or down in the future.

The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage/product. The APRC enables you to compare the cost of different products.

The LTV is calculated by us using your current mortgage balance and our current assessed valuation of your property.

3 easy ways to apply

Apply online

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Mortgages are secured on your home. You could lose your home if you do not keep up repayments on your mortgage.