2.85% variable rate for 2 years. This is the current Buy To Let Mortgage Variable Rate with a 2.44% discount and £995 completion fee which can be added to the mortgage or paid upfront
This product is for Consumer Buy to Lets only.
A mortgage of £120,000.00 payable over 25 years initially on a discounted rate for 2 years at 2.85% and then on our Buy to Let Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 23 years would require 24 monthly payments of £287.47 and 276 monthly payments of £533.58.
The total amount payable would be £275,297.36 made up of the loan amount plus interest (£274,167.36),a Product fee of £995.00, a CHAPS Fee of £20.00, an Insurance Rearrangement fee of £25.00 , and a Mortgage Discharge Fee of £90.00.
The overall cost for comparison is 5.10% APR representative.
Please note the example above is for a remortgage on an interest only basis
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