
70% LTV - Variable BTL / Expat Mortgage / Holiday Let
Mortgage Type |
Initial Rate |
Term | Standard Variable Rate |
Maximum Loan to Value |
Overall Cost for Comparison (APRC) |
Application Fee |
Arrangement Fee |
Early Repayment Charge |
---|---|---|---|---|---|---|---|---|
70% LTV - Variable BTL / Expat Mortgage / Holiday Let | 4.75% (Variable) | Term | 4.75% (Variable) | 70% | 4.90% APRC | None | None | No |
Product Details
Starting Rate | 4.75% |
The overall cost for the comparison | 4.90% APRC |
Discount Period | None |
Minimum Interest Rate | N/A |
Maximum LTV | 70% |
Available for |
Capital Raising
Purchase
Remortgage
|
Minimum Loan | £70,000 |
Maximum Loan | £500,000 |
Early Repayment Charges | None |
Application Fee | None |
Arrangement Fee | None |
Basic Valuation Fee | Fee applicable (See valuation fee) |
Minimum Property Value | £100,000 |
Minimum Term | 5 years |
Maximum Term | 30 years |
Repayment Type |
Interest Only
Repayment
|
Minimum Age | 21 |
Maximum Age at Term End | 85 (Mortgage must be finished by the oldest applicants 85th birthday) |
Geographical Restrictions | England and Wales |
Incentives | None |
Representative example | A mortgage of £184,950 payable over 20 year’s variable rate of 4.75% for term would require 240 monthly payments of £1195.19. The total amount payable would be £287,310.60 made up of the loan amount plus interest (£102,360.60), a valuation fee of £295, a funds transfer fee of £25, estimated solicitors fees of £145. The overall cost for comparison is 4.90% APRC representative. |
Notes
- This mortgage summary should be read in conjunction with the Terms and Conditions.
- The Society does not lend on consumer BTLs
- Minimum income for landlords with less than 4 properties: £25,000 from earned, pension or rental income from unencumbered properties.
- Rental Yield:
- Up to 50% LTV 130% at 5.5% ICR
- 50%-70% LTV 140% at 5.5% ICR
- Rental as confirmed by the Society’s valuer.
- Minimum income for landlords with 4 or more properties: Must have an independent income of £25,000 excluding property income.
- Residential Status: Applicant must own a property in the UK with or without a mortgage
- Property Restrictions for BTLs Include
- Must not have been previously lived in by the applicants.
- Must not have been previously lived in by any of the applicants family or is intended for family to live in.
- Must not be an inherited property
- Must not be a let to buy.
All rates correct as of 14/12/2020