Buy-to-Let Products
Limited companies and Limited Liability Partnerships only.

  3-YEAR BUY-TO-LET FIXED RATE MORTGAGE 5-YEAR BUY-TO-LET FIXED RATE MORTGAGE
Pay rate(s)

Until 31 January 2012 the rate is fixed at:

 6.99%

Until 31 January 2014 the rate is fixed at:

 6.99%
The rate then changes to our Buy-to-Let Standard Variable Rate (currently 7.25%) thereafter The rate then changes to our Buy-to-Let Standard Variable Rate (currently 7.25%) thereafter
The overall cost for comparison is
(see note 6)		 7.6% APR 7.6% APR
Overpayments allowed up to 10% of original loan each year without ERC (over 10% ERC applies) Yes, up to 31 January 2012 Yes, up to 31 January 2014
Early repayment charge (ERC) 5% to 31.01.10
4% to 31.01.11
3% to 31.01.12		 5% to 31.01.10
4% to 31.01.11
3% to 31.01.14
Application fees None None
Completion fees £1295 £1295
Maximum LTV 70% 70%
Valuation fee Fee scale starts at £255 for purchase properties up to £100k. Free valuation fee on remortgages providing the property value is less than £500,000. Fee scale starts at £255 for purchase properties up to £100k. Free valuation fee on remortgages providing the property value is less than £500,000.
Notes
  • The mortgage product is portable and can be applied to a new commercial mortgage.
  • Max loan for individual property £500k
  • If more than 6 letting units, this can be considered on a commercial basis (see commercial terms for consideration)
  • Where no Early Repayment Charge applies or the Early Repayment Charge period has expired unlimited overpayments can be made. On redemption, interest to the end of the month of redemption is payable.
  • Rent or expected rent must cover mortgage interest by 125% based on the fixed pay rate.
  • These products are available to limited company investors and limited liability partnerships.
  • If the borrowers' solicitor is not on our panel a £352.50 fee is payable.
  • Limited to six tenants/units per property.
  • Interest only options available if required.
  • The mortgage product is portable and can be applied to a new commercial mortgage.
  • Max loan for individual property £500k
  • If more than 6 letting units, this can be considered on a commercial basis (see commercial terms for consideration)
  • Where no Early Repayment Charge applies or the Early Repayment Charge period has expired unlimited overpayments can be made. On redemption, interest to the end of the month of redemption is payable.
  • Rent or expected rent must cover mortgage interest by 125% based on the fixed pay rate.
  • These products are available to limited company investors and limited liability partnerships.
  • If the borrowers' solicitor is not on our panel a £352.50 fee is payable.
  • Limited to six tenants/units per property.
  • Interest only options available if required.

Important Notes:

  1. The minimum loan is £25,000. The minimum additional borrowing amount is £25,000.
  2. The minimum term is five years, the maximum is 25 years (or age 75 unless a limited company)
  3. Limited Companies – Directors’ personal guarantees and mortgage debentures are normally required.
  4. You may apply for up to 100% of the loan amount on an interest only basis. If any part of the loan is on an interest only basis that part will not reduce during the mortgage term and it is your responsibility to ensure that you have sufficient funds to repay the mortgage at the end of the term.
  5. See the 'submission' section for details of valuation fees.
  6. On the BoEBR linked and fixed rate products the overall cost for comparison is based on the highest interest charge and fees applicable to that product.

BoEBR = Bank of England Base Rate

BSVR = Buy-to-Let Standard Variable Rate

LTV = Loan to Value. The amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.