2 year discount portfolio landlords [BRDP11]
Discounted until 31/10/2019.
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
Who's the product for?
Our portfolio range is designed for experienced landlords. If your client's buy to let portfolio will exceed four mortgaged properties when their application completes then we can consider your case on our portfolio product range.
Product related fees
There is an arrangement fee of £999. Your client can choose to add the fee to the amount they borrow or pay the fee up front by deducting the fee from the mortgage amount.
If your client adds the fee to their mortgage they will pay interest on the fee at the same rate as their mortgage.
Free standard valuation: We will cover the cost of a standard valuation on the property.
Free standard legal fees: Where your client chooses to use our solicitors we will cover the cost of these standard legal fees. If they are likely to be subject to any non standard fees they will be notified. If your client chooses to use their own solicitors we will provide them with £150 cashback. Our solicitors will only act on our behalf and will not provide independent advice regarding the transaction.
There is a minimum mortgage amount of £50,000.
This product offers a maximum mortgage amount of £350,000.
The maximum loan to value is 70%.
Interest rate floor
The interest rate on this product is floored and cannot fall below 2.28%.
Mortgage repayment terms
Your client can repay their mortgage over a minimum of 5 years and a maximum of 35 years.
Early Repayment Charges
Your client can repay up to 10% of the original mortgage amount each year.
Any overpayments taking your client over this allowance will be subject to the full Early Repayment Charge. The Early Repayment Charge will be:
- 2% of the amount repaid until 31/10/2018; and
- 1% of the amount repaid until 31/10/2019.
Here for you
- Discuss your new decision in principle
- Talk through our rental income requirements
- Answer any of your buy to let questions
- Help you understand our criteria
Your property may be repossessed if you do not keep up repayments on your mortgage.