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Holiday let 2 year variable rate purchase 5.39%

This product is not available for shared ownership applications

Available for loans up to 75% of the purchase price or valuation of the property, whichever is lower.

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

PLEASE NOTE: The rate on this product includes an SVR rate decrease on 31/07

Deposit % Term Initial interest
rate 		Follow on rate Overall cost for
comparison 		Max LTV Arrangement
fee 		Application
fee
25% 2 years 5.39% 9.14%
after 2 years 		8.7% APRC 75.0% £999.00 £199.00

Key features

Variable rate

A variable rate, currently 5.39%, which is discounted by 3.75% from our Standard BTL Variable Rate for the first 2 years. It then changes to our Standard BTL Variable Rate, which is currently 9.14%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 8.7% APRC representative.

What you pay

  • Daily interest.
  • A valuation fee is payable for all properties worth £800,000 or more.
  • An application fee of £199 (non-refundable) is payable with the application.
  • An arrangement fee of £999.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we pay

  • The first valuation fee for properties worth less than £800,000

Representative example

A mortgage of £200,498.00 over 27 years initially on a discounted variable rate of 5.39% (equal to a 3.75% discount off our BTL SVR) for 2 years and then our Standard BTL Variable Rate, currently 9.14%, for the remaining term, would require 24 monthly payments of £905.06 and 300 monthly payments of £1527.01.

The total amount payable would be £480,095.02 made up of the loan amount plus interest (£278,289.02) with a Application Fee of £199.00, Arrangement Fee of £999.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 8.7% APRC representative.

 

Please note: the representative example is for a house purchase only. For remortgage applications, certain fees do not apply. Please contact us for details.


This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate European Standardised Information Sheet before you make a decision. For full details, please call our friendly team on 0800 378 669.

Product Reference: 748

Your home may be repossessed if you do not keep up repayments on your mortgage