2 Year Holiday Let Fixed Rate Mortgage
RATES CORRECT AS AT 04 December 2020
Initial rate
3.79%
Fixed up to and inc. 31/03/2023
Then changing to the Society's BTL Variable Rate less a discount of 1.00%, (currently)
4.59%
Up to and inc. 31/03/2026
Then changing to the Society's BTL Variable Rate thereafter, (currently)
5.59%
For the remaining term of the mortgage
The overall cost for comparison is
5.0%
APRC
Maximum loan to value
70%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.79% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.59% giving a rate of 4.59% for 3 years and then on our current Buy to Let Variable Rate of 5.59% for the remaining 20 years would require 24 monthly payments of £379.00, 36 monthly payments of £459.00 and 240 monthly payments of £559.00.
The total amount payable would be £279,815.00 made up of the loan amount plus interest of £159,780.00 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 5.0% 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 £500,000.
- Fees assisted legal services for standard re-mortgages.
- 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 31 Mar 2023.
| Fees | |
|---|---|
| Application Fee (payable on application - non-refundable) | £0 |
| Product Fee (payable on application - this is refundable should the mortgage not complete) | £0 |
| Mortgage Exit Fee | £199 |