2 Year Discount at 5.69% - BTL
Product Overview
Initial variable rate for 2 years
3.00% discount off our Buy to Let Mortgage Variable Rate5.69%
Maximum LTV
75%
The overall cost for comparison is
8.5%
APRCProduct Fee
No Fee
Your home may be repossessed if you do not keep up repayments on your mortgage.
PRODUCT CODE - BDS52
This is a 5.69% 2 year discounted variable rate mortgage. A 25% deposit is required.
This mortgage is only available for product switches.
A 2% early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years
The minimum loan amount is £20,000 and the maximum loan amount is £1,000,000.
The maximum term available is 40 years.
This product has a floor rate.
There may be other fees and charges when taking out a mortgage with us – please see mortgage fees and charges for more information
Representative Example
A mortgage of £150,000 payable over 23 years initially on a discount rate for 2 years at 5.69% and then on our Buy to Let Mortgage Variable Rate (MVR) of 8.69% (variable) for the remaining 21 years would require 24 monthly payments of £711.25 and 252 monthly payments of £1,086.25.
The total amount payable would be £440,925.00 made up of the loan amount plus interest (£440,805.00) and a Mortgage Discharge Fee of £120.00.
The overall cost for comparison is 8.5% APRC representative.
Please note the example above is for a product switch on an interest only repayment basis.