5 Year Fixed Rate Buy to Let – 75% LTV
Overall cost for comparison
Early Repayment Charges and other fees may apply. We will lend a minimum of £100,000 to borrowers purchasing a home outside our local operating postcodes which are: TS, DL, DH, SR, YO & HG.
Based on a mortgage of £120,000 payable over 21 years, initially on our 2.99% fixed rate for 5 years and 5 months, and then on our Standard Variable rate currently 5.3% for the remaining 15 years and 7 months. This would require 65 monthly payments of £647.79 and all remaining instalments of £761.10.
The total amount payable would be £184,522.05, made up of the loan amount plus interest of £63,313.47 a product fee of £999 and account fee of £120.
The overall cost for comparison is 4.40% APRC.
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 01/01/2018 – 31/12/2018 and if you were to take your mortgage product as at 01/06/2021.
All above information is for illustration purposes only and may vary depending on personal circumstances.