2 year discount rate holiday let [JD003]

Discounted for 2 years

Early Repayment Charges apply.

This product may be withdrawn at any time.

 
arrangement fee
This fee can be paid upfront or added to the mortgage amount. If the fee is added to the mortgage then interest will be payable on the fee at the same rate as the mortgage.
£999
booking fee
This fee must be paid on application. We are unable to accept payment of the fee by credit card.
no fee
initial rate
2.50% discount from our Standard Variable Rate for 2 years
2.74%
followed by our SVR 5.24%
The overall cost for comparison is 4.7% APRC
 

Product key features

Who's the product for?

If your clients are looking for a mortgage on a holiday home and are planning to let it out on a short-term let basis, then we can help.

We'll even accept properties on an AirBnB basis.

Product related fees

There's an arrangement fee of £999. Your clients can pay this up front by deducting the fee from the mortgage amount or adding it to the amount they borrow.

If they choose to add the fee to their mortgage they'll pay interest on the fee at the same rate as their mortgage.

Mortgage amounts

There's a minimum mortgage amount of £50,000 and a maximum amount of £750,000.

The minimum property value is £75,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 75%.

Interest rate floor

The interest rate is floored and can't fall below 2.49%.

Mortgage repayment terms

Mortgage repayment terms are allowed between 5 years and 35 years.

Early Repayment Charges

Your clients can overpay up to 10% of the original mortgage amount each year without charge. If they redeem their mortgage or switch to another product during the discount rate product term then an Early Repayment Charge will apply.

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.
Faye is here to help you with your case 0121 521 4045* Getting in touch
Our lines are open:
Monday - Friday9:00 - 17:00
Saturday - SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

We're here to help

  • Discuss affordability
  • Process your decision in principle
  • Help you understand our criteria
  • Make things easier for you

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