Buy-to-Let Three Year Discount Mortgage 70% LTV
This discounted rate mortgage gives you a set discount off our Standard Variable Rate (SVR) for an agreed period, giving you lower initial monthly payments.
An initial rate of
(2.6% discount off our SVR)
variable for three years,
followed by our SVR, currently
variable for the rest of the mortgage.
The overall cost for comparison is
|Loan to Value (LTV)||70%|
|Arrangement fee||None Other fees may apply.|
|Early repayment charges||0.50% of the advance|
Your home may be repossessed if you do not keep up repayments on your mortgage
The following representative example is intended to allow you to easily compare products across lenders and does not reflect what your actual monthly payment or APRC could be. Please contact us if you have any questions regarding this.
A mortgage of £221,449 payable over 10 years 11 months, initially on a Discounted rate for 3 years at 3.04% and then on our current Standard Variable Rate Mortgage of 5.64% (variable) for the remaining 7 years 11 months, would require 36 monthly payments of £1,988.56 and 95 monthly payments of £2,192.82.
The total amount payable would be £279,906.05 made up of the loan amount plus interest (£58,457.05) and a redemption fee of £80.
The overall cost for comparison is 4.4% APRC representative.
Fees may differ to those shown in this representative example. Current fees can be found in our tariff of charges.
Additional product information
- Overpayments up to 10% of the advance are allowed.
- Property must be let on an Assured Shorthold Tenancy.
- This mortgage is portable which means it is possible to take this product with you to a new property, subject to lending criteria and policy at the time.
- The interest rate charged will not fall below 2.00% (the minimum interest rate) at any point during the mortgage.
- The minimum term for this product is three years and the maximum term is 40 years.
- All applications are subject to current lending criteria.
- Please view our mortgage services fees and our mortgage valuation fees.
This does not include all of the information you need to choose a mortgage. For full details please ask us about how you can get an illustration.