Buy to Let Fixed Rate Mortgage FR304

This fixed rate mortgage could be available to you if you are buying up to three properties which you plan to let.


Our five year fixed rate mortgage allows you to plan your finances safe in the knowledge that your repayments will not be affected by changes in the interest rate until 30 April 2024. If you pay off your mortgage during this time, you will pay an early repayment charge of the following tariffs:

4% of the outstanding balance

Before 30th April 2021

3% of the outstanding balance

Before 30th April 2022

2% of the outstanding balance

Before 30th April 2023

1% of the outstanding balance

Before 30th April 2024


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

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


Interest Rate
3.39% fixed until 30.04.2024
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
4.9% APRC
Fees
£999 Product Fee
£120 Account Fee
Key features

£999 Product Fee.

£120 Account Fee.

Capital and interest or Interest only basis.

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

Up to 70% LTV.

Incentives
Insurance

No compulsory insurances.

Eligibility

This mortgage is only available to you if you are buying up to three properties for letting purposes.

Our mortgages are available to anyone aged 18 or over who meet our conditions. All loans depend on your circumstances and a satisfactory valuation of the property you are buying. Your property will be security for the loan and you may need to provide extra security. You can get a written illustration from any of our branches or from our head office.

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the fixed rate period.
Early repayment charge
4% of the outstanding balance before 30th April 2021 / 3% of the outstanding balance before 30th April 2022 / 2% of the outstanding balance before 30th April 2023 / 1% of the outstanding balance before 30th April 2024
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 fixed period
5 Years 1 Month
The initial fixed rate
3.39%
The amount of the fixed rate instalments
£724.33
The number of the fixed instalments
61
The frequency of the fixed instalments
Monthly
Our Standard Variable Rate (SVR)
5.95%
The duration of the SVR period
14 Years 11 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£858.05
The total amount payable
£197,865.08
The total amount of interest payable
£71,655.32
Mortgage exit fee
£90
Product fee
£999
Account fee
£120
The overall cost for comparison
4.9% 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 01/12/2017 – 31/12/2017 and if you were to take your mortgage product as at 01/04/2019.

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

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Want to speak to a friendly staff member?

Sometimes it's easier to discuss things face-to-face. All our branches have staff ready and waiting to talk. If you’d like to discuss your options or you think you need help, call in at your local branch.

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Alternatively call our enquiries line between:

9am and 5pm Monday to Friday (9:30am and 5pm Tuesday) or
9am and 12pm on Saturday

Our staff will be more than happy to help with any questions or queries

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