Buy to let 2 year discount [BRD39]
Discounted for 2 years
Early Repayment Charges apply.
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Product key features
Product related fees
There is an arrangement fee of £999 that can be deducted from the mortgage amount or added to the amount borrowed.
Valuation fee contribution: We will contribute £350 towards the cost of your clients first standard valuation.
Fees assisted legals: Your client has the choice of choosing our own solicitors, where we will assist with the standard legal fees, or receiving £150 cashback towards their own solicitor's costs. Your client will be advised of any non-standard costs that may be applicable. If they choose to use our solicitors, they will only act for us and will not provide your client with independent advice regarding the mortgage transaction.
There is a minimum mortgage amount of £50,000 and a maximum mortgage amount of £350,000.
The maximum loan to value is 70%.
Interest rate floor
The interest rate is floored meaning it cannot fall below 2.49%.
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 overpay 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 during the first year; and
- 1% of the amount repaid during the second year.
Happy to help you...
- Discuss your clients buy to let needs
- Help with your existing buy to let case
- Discuss our buy to let lending criteria
- Process your decision in principle request
Your property may be repossessed if you do not keep up repayments on your mortgage.