Mortgage Product
70% LTV – Holiday Buy-To-Let Discounted Variable
Rates effective from: 01/10/2023
Mortgage Product
Rates effective from: 01/10/2023
5.65%
2 years
8.00%
70%
7.7%
£100
None
Apply if more than 10% of the outstanding balances is repaid each year:
3% of repaid amount for the first 2 years.
A mortgage of £204,050 payable over 20 years initially on a discounted variable rate of 5.65% for 2 years and then on our Buy to Let Standard Variable Rate (SVR) currently 8.00% (variable) for the remaining 18 years would require 24 monthly payments of £1,420.98 followed by 216 monthly payments of £1,683.30. The total amount payable would be £398,401.32 made up of the loan amount plus interest (£194,351.32) a valuation fee of £430, a funds transfer fee of £30, estimated solicitors fees of £145 and an application fee of £100. The overall cost for comparison is 7.7% APRC representative.
2.35% discount off The Stafford’s Buy to Let Standard Variable Rate (SVR) currently 8.00% for 2 years giving a current variable rate of 5.65%, followed by the But to Let Society’s SVR applicable at the time for the rest of the term
The interest rate on this product will not drop below 1.50%
Capital Raising, Purchase, Remortgage
£70,000
£660,000 (For loans above, please contact the Society)
Apply if more than 10% of the outstanding balances is repaid each year:
3% of repaid amount for the first 2 years.
100
None
Fee Applicable (see valuation fees)
£100,000
5 years
Varies according to age
Interest Only and Repayment
21
85 (subject to proof of pension income post age 75 or declared retirement age, whichever is sooner)
None
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE