5 Year Large HMO Fixed Rate Mortgage
RATES CORRECT AS AT 21 June 2024
Initial rate
6.34%
Fixed up to and inc. 30/09/2029
Then changing to the Society's BTL Variable Rate thereafter, (currently)
8.54%
For the remaining term of the mortgage
The overall cost for comparison is
8.0%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £300,000.00 payable over 25 years initially on a fixed rate for 5 years at 6.34% and then on our current Buy to Let Variable Rate of 8.54% (variable) for the remaining 20 years would require 60 monthly payments of £1585.00 and 240 monthly payments of £2135.00.
The total amount payable would be £908,534.00 made up of the loan amount plus interest of £607,500.00 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 8.0% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
Additional features
- Interest calculated daily.
- Maximum loan £750,000.
- Available for properties housing more than 6 occupants
- Free standard valuation up to £999.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 30 Sep 2029.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£999
Mortgage Exit Fee
£199