Our variable Holiday Let mortgage is for owners of holiday properties who like to let out their property to holidaymakers when it is not in use.
3.80% variable rate for 2 years. This is the current Buy To Let Mortgage Variable Rate with a 1.49% discount. This product has a £995 fee.
A mortgage of £140,000 payable over 25 years initially on a discounted rate for 2 years at 3.80% 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 £446.63 and 276 monthly payments of £621.75.
The total amount payable would be £323,752.12 made up of the loan amount plus interest (£322,322.12) an Application fee of £995.00, a CHAPs fee of £20,.00 a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 , and a Mortgage Discharge Fee of £90.00.
The overall cost for comparison is 5.30% APR representative.
Please note the example above is for a house purchase on an interest only basis.
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