Holiday let 2 year variable rate remortgage 6.05%
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.
| Deposit % | Term |
Initial interest rate |
Follow on rate |
Overall cost for comparison |
Max LTV |
Arrangement fee |
Application fee |
|---|---|---|---|---|---|---|---|
| 25% | 2 years | 6.05% |
9.14% |
9.0% APRC | 75.0% | £1999.00 | £0.00 |
Key features
Variable rate
A variable rate, currently 6.05%, which is discounted by 3.09% 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 9.0% APRC representative.
What you pay
- Daily interest.
- A valuation fee is payable for all properties worth £800,000 or more.
- An arrangement fee of £1999.
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
- For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
Representative example
A mortgage of £200,498.00 over 27 years initially on a discounted variable rate of 6.05% (equal to a 3.09% discount off our SVR) for 2 years and then our Standard Variable Rate, currently 9.14%, for the remaining term, would require 24 monthly payments of £1020.92 and 300 monthly payments of £1533.76.
The total amount payable would be £687,600.81 made up of the loan amount plus interest (£484,663.81) with a Arrangement Fee of £1,999.00, Funds Transfer Fee of £25.00, Basic Valuation of £330.00 and a Mortgage Exit Fee of £85.00.
The overall cost for comparison is 9.0% 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: 833
Your home may be repossessed if you do not keep up repayments on your mortgage