Buy to Let Member Exclusive Discount Mortgage D407

This discount mortgage could be available to you from 1 July 2019 if you are buying up to three properties which you plan to let and are an existing Darlington Building Society borrower.


With this discounted mortgage you benefit from a reduction in our current standard variable interest rate until 30 September 2022. Until then your payments may increase or decrease as our standard variable rate changes, but a discount of 2.86% applies until the end of the discount period. If you pay off your mortgage during this time, you will pay an early repayment charge of the following tariffs:

3% of the outstanding balance

Before 30th September 2020

2% of the outstanding balance

Before 30th September 2021

1% of the outstanding balance

Before 30th September 2022


Because you never know when you might want to, you can make one lump sum repayment of 10% off your mortgage during the discount period. 

If you think this discounted variable rate mortgage could be for you, carry on reading for more information.


Interest Rate
3.09% until 30.09.2022
For the remainder of the term of the mortgage, changing to our SVR currently
5.95% and remaining on standard variable rate terms for the rest of the mortgage
Overall cost for comparison
5.1% APRC
Fees
£0 Product Fee
£0 Account Fee
Key features

Capital and interest or Interest only basis.

One lump sum repayment of up to 10% within the discounted period.

Up to 70% LTV.

Incentives

No product fee.

No account fee.

Insurance

No compulsory insurances.

Eligibility

Our mortgages are available to anyone aged 18 or over who meet our conditions. You must be a current Darlington Building Society mortgage holder to be eligible for this product. For full eligibility information, please see the full product terms and conditions.

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the discounted period.
Early repayment charge
3% of the outstanding balance before 30th September 2020 / 2% of the outstanding balance before 30th September 2021 / 1% of the outstanding balance before 30th September 2022
Portable
No
Notes

Darlington Building Society are required to provide you with Standard Information which is a representative of the current mortgage, which is set out below:


Requirement
Society Example
The total amount of the credit
£125,000
Duration of the contract
20 Years
The duration of the variable period
3 Years 5 Months
The initial variable rate
3.09%
The amount of the variable rate instalments
£698.89
The number of the variable instalments
41
The frequency of the variable instalments
Monthly
Our Standard Variable Rate (SVR)
5.95%
The duration of the SVR period
16 Years 7 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£860.73
The total amount payable
£200,029.76
The total amount of interest payable
£74,939.73
Mortgage exit fee
£90
Product fee
£0
Account fee
£0
The overall cost for comparison
5.1% APRC
Representative example summary

If all or part of your income is in a currency other than Pound Sterling (£), you should be aware about the risks of fluctuations in currency exchange rates. If the value of the relevant currency moves against you by at least 20% then that may make it more difficult for you to afford your mortgage payments.

The Representative Example is based on mortgages sold between 01/01/2017 – 31/12/2017 and if you were to take your mortgage product as at 01/05/2019.

All above information is for illustration purposes only and may vary depending on personal circumstances.

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