(H043) 6.75% fixed to 30.09.2031 Holiday Let Professional Landlord

 
Designed for:

Existing landlord borrowers who want to switch to a new mortgage product and want fixed repayments for a set period. Available for limited companies and portfolios of 10 or more.

 
Not designed for:

Landlords owning a property in a personal name or those 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

(H043) 6.75% fixed to 30.09.2031 Holiday Let Professional Landlord

Initial rate

6.75%

Subsequent Rate (SVR)

7.60%

Overall cost for comparison

7.5% APRC

Maximum loan to value (LTV)

75%

Incentives

None

Arrangement Fee

No fee

Early repayment charge

Yes

Product Summary

Initial Rate

6.75% fixed until 30.09.2031.

Followed by:

Our Standard Variable Rate* for the remainder of the term, currently 7.60%.

Overall cost for comparison*

7.5% APRC

Fees & Incentives
Fees
 

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

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 30.09.2027

4% until 30.09.2028

3% until 30.09.2029

2% until 30.09.2031

Repayment Method

Capital & Interest or Interest-Only

Maximum Loan to Value (LTV*)

75%

Product Information
Portability
 

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

 
Eligibility

At the date of the product switch, the balance must be between £5,000 and £600,000 and a term of at least 5 years must remain.

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 £300,000.00 payable over 20 years, on an interest-only repayment basis, initially on a fixed rate of 6.75% until 30.09.2031, and then on our Standard Variable Rate, currently 7.60%, for the remaining 15 years. The initial term would require 64 monthly payments of £1,687.50 followed by 176 monthly payments of £1,900.00.

The total amount payable would be £742,500.00, made up of the loan amount (£300,000.00), plus interest (£442,400.00), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 7.5% 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 7.60%. 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.