(HB37) 5.89% fixed to 31.01.2027 Holiday Let Limited Company

Designed for:

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


Not designed for:

Landlords who plan to repay more than 10% in any one year during the fixed period.

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

(HB37) 5.89% fixed to 31.01.2027 Holiday Let Limited Company

Initial rate

5.89%

Subsequent Rate (SVR)

8.10%

Overall cost for comparison

8.00% APRC

Maximum loan to value (LTV)

75%

Incentives

None

Arrangement Fee

£1,500

Early repayment charge

Yes

Product Summary

Initial Rate

5.89% fixed until 31.01.2027.

Followed by:

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

Overall cost for comparison*

8.0% APRC

Fees & Incentives
Fees
 

Funds transfer fee - £20 (payable before completion)

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

Arrangement fee - £1,500 (Can be paid up front or added to the loan)

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

 
Incentives

None.

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:

2% until 31.01.2027

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.

 
Adding fees

If the arrangement fee is added to the loan, it will attract interest increasing the total loan payable over the term of the mortgage.

 
Eligibility

Property must be in England and Wales with a value of £250,000 or more.

Property must be owned through a Special Purpose Vehicle Limited Company registered in England and Wales.

Not available for HMO properties.

Maximum portfolio 4 properties.

Mortgages are subject to underwriting.

 
Affordability

The projected rental income must be at least 145% of the mortgage payment at an assumed interest rate of 8.10%.

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 £251,717.00, payable over 18 years, on an interest-only repayment basis, initially on a fixed rate of 5.89% until 31.01.2027, and then on our Standard Variable Rate, currently 8.10%, for the remaining 16 years. The initial term would require 28 monthly payments of £1,235.51 followed by 188 monthly payments of £1,699.09.

The total amount payable would be £608,015.20, made up of the loan amount (£251,717.00), plus interest (£354,023.20), Arrangement Fee (£1,500), Standard Valuation Fee (£405), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 8.0% 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

ENQUIRE ONLINE

Complete our quick online enquiry form and we'll get back to you within one working day.

ENQUIRE ONLINE
Apply in branch

APPLY IN BRANCH

Arrange to meet an expert Mortgage Adviser in one of our six branches.

BRANCH FINDER
Apply by phone

Apply By Phone

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