H&R for Intermediaries recognises that choosing the right mortgage for your client may be difficult, but we have always tried to make our products straightforward and easy to understand. Please find below a complete list of all currently available buy to let mortgage products. Use the arrow tools in the column headings to search for products by rate or by maximum loan to value.
Please note this table includes our Joint Borrower Sole Proprietor, Later Life and Non Owner Occupier products – these are clearly noted in the product name.
Please refer to the individual product guide for details of the minimum loan size. The maximum loan size varies according to LTV. Please use the Criteria – Buy to Let section to check this before producing an illustration.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows:
During years 1 & 2: 2% of the amount repaid early plus fees This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges.
The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows:
During years 1 & 2: 2% of the amount repaid early plus fees This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges.
The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£745 (non-refundable)
Completion fee:
Free
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows: During years 1 & 2: 2% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows: During years 1 & 2: 2% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£1250 (non-refundable)
Property assessment fee:
Free where the price or value of the property is £1million or less.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Property assessment fee payable on prices or values of more than £1million (non-refundable after property assessment carried out for the Society):
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£1,000,000
Free
Free
£1,500,000
£330
£330
£2,000,000
£530
£530
£2,500,000
£910
£910
£3,000,000
£1,310
£1,310
£3,500,000
£1,710
£1,710
£4,000,000
£2,110
£2,110
£4,500,000
£2,510
£2,510
£5,000,000
£2,910
£2,910
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Special Features
Offset facility available if required – please click here to see further information
This facility is not available for the 2.99% product.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£1250 (non-refundable)
Property assessment fee:
Free where the price or value of the property is £1million or less.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Property assessment fee payable on prices or values of more than £1million (non-refundable after property assessment carried out for the Society):
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£1,000,000
Free
Free
£1,500,000
£330
£330
£2,000,000
£530
£530
£2,500,000
£910
£910
£3,000,000
£1,310
£1,310
£3,500,000
£1,710
£1,710
£4,000,000
£2,110
£2,110
£4,500,000
£2,510
£2,510
£5,000,000
£2,910
£2,910
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Special Features
Offset facility available if required – please click here to see further information
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is recommended that you take advice about purchasing property to let or on letting property you already own from any of these specialist agencies:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows: During years 1 & 2: 2% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage product specifically for later life borrowers who will be over 75 at the end of their term.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage product specifically for later life borrowers who will be over 75 at the end of their term.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.89%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
No
Buy to Let Joint Borrower Sole Proprietor 2 Year Fixed BTLJBSP-JBBF5
3.29% fixed - Buy to Let Joint Borrower Sole Proprietor 2 Year Fixed - [BTLJBSP - JBBF5]
SPECIAL MORTGAGE SCHEME
With effect from 2nd December 2020
Available throughout England and Wales
A JOINT BORROWER SOLE PROPRIETOR MORTGAGE is designed to help someone to buy a home with the financial assistance of a third party or parties with the only charge being on the property being purchased. The buyer’s income is boosted by that of the third party, for example a parent or guardian, as part of the application but without adding them to the title deeds. The third party whose name will not be on the deeds will be required to take independent legal advice. The advising solicitor must provide written confirmation that they have done so in the Society’s required format before the loan monies can be released.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
Fixed for 2 years from date of completion
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows: During years 1 & 2: 2% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.29%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
No
Buy to Let Joint Borrower Sole Proprietor 2 Year Discount BTLJBSP-JBBD4
3.19% variable - Buy to Let Joint Borrower Sole Proprietor 2 Year Discount - [BTLJBSP - JBBD4]
SPECIAL MORTGAGE SCHEME
With effect from 2nd December 2020
Available throughout England and Wales
A JOINT BORROWER SOLE PROPRIETOR MORTGAGE is designed to help someone to buy a home with the financial assistance of a third party or parties with the only charge being on the property being purchased. The buyer’s income is boosted by that of the third party, for example a parent or guardian, as part of the application but without adding them to the title deeds. The third party whose name will not be on the deeds will be required to take independent legal advice. The advising solicitor must provide written confirmation that they have done so in the Society’s required format before the loan monies can be released.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
2.70% discount off the Society's Basic Variable Rate for 2 years
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.19%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
Yes
Buy to Let Joint Borrower Sole Proprietor 5 Year Fixed BTLJBSP-JBBF2
3.89% fixed - Buy to Let Joint Borrower Sole Proprietor 5 Year Fixed - [BTLJBSP - JBBF2]
SPECIAL MORTGAGE SCHEME
With effect from 9th April 2020
Available throughout England and Wales
A JOINT BORROWER SOLE PROPRIETOR MORTGAGE is designed to help someone to buy a home with the financial assistance of a third party or parties with the only charge being on the property being purchased. The buyer’s income is boosted by that of the third party, for example a parent or guardian, as part of the application but without adding them to the title deeds. The third party whose name will not be on the deeds will be required to take independent legal advice. The advising solicitor must provide written confirmation that they have done so in the Society’s required format before the loan monies can be released.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
Fixed for 5 years from date of completion
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Mortgage product specifically for later life borrowers who will be over 75 at the end of their term.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.19%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
Yes
Buy to Let Non Owner Occupier 2 Year Discount NOOBTL-BTN7
3.19% variable - Buy to Let Non Owner Occupier 2 Year Discount - [NOOBTL - BTN7]
SPECIAL MORTGAGE SCHEME
With effect from 2nd December 2020
Available throughout England and Wales
A NON-OWNER OCCUPIER MORTGAGE may be available for first time buyers or other would-be landlords who do not own a residential property, depending on their circumstances.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
2.70% discount off the Society's Basic Variable Rate for 2 years
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
None
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.19%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
Yes
Buy to Let Non Owner Occupier 2 Year Fixed NOOBTL-BTN6
3.29% fixed - Buy to Let Non Owner Occupier 2 Year Fixed - [NOOBTL - BTN6]
SPECIAL MORTGAGE SCHEME
With effect from 2nd December 2020
Available throughout England and Wales
A NON-OWNER OCCUPIER MORTGAGE may be available for first time buyers or other would-be landlords who do not own a residential property, depending on their circumstances.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
Fixed for 2 years from date of completion
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
Early repayment charge payable as follows: During years 1 & 2: 2% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
Further guidance and information is also available on the government’s Money Helper website
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
3.29%
75%
Arrangement fee: £250 Completion fee: £999 (can be added)
No
No
Buy to Let Non Owner Occupier 5 year Fixed NOOBTL-BTN3
3.89% fixed - Buy to Let Non Owner Occupier 5 year Fixed - [NOOBTL - BTN3]
SPECIAL MORTGAGE SCHEME
With effect from 20th April 2020
Available throughout England and Wales
A NON-OWNER OCCUPIER MORTGAGE may be available for first time buyers or other would-be landlords who do not own a residential property, depending on their circumstances.
YOU COULD LOSE YOUR PROPERTY IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Maximum loan to value available:
Fixed for 5 years from date of completion
Reverting for the rest of the term of the mortgage to Buy to Let Basic Variable Rate (BVR)
(please see "Fees notes" below for further details of these fees and when they are payable)
Arrangement fee:
£250 (non-refundable)
Completion fee:
£999 (non-refundable)
Property assessment fee:
Scale fee applies - see table below.
Mortgage exit admin fee:
£150 (non-refundable)
Early repayment charge:
During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
Fees notes
Arrangement fee:
Must be paid at the time of submitting mortgage application and will be debited only after passing an initial assessment.
Completion fee:
This fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion. By electing to add fees to the loan, you will pay interest on them at the same interest rate as your mortgage throughout the mortgage term and this will affect interest charges and payment calculations. If preferred, fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
Property assessment fee:
Please see the table below for details of the applicable fee:
Purchase price or value (Not exceeding)
Purchase application (Property assessment fee)
Remortgage application (Property assessment fee)
£100,000
£205
£205
£150,000
£230
£230
£200,000
£265
£265
£300,000
£315
£315
£400,000
£345
£345
£500,000
£450
£450
£600,000
£485
£485
£700,000
£555
£555
£800,000
£615
£615
£900,000
£675
£675
£1,000,000
£745
£745
£1,500,000
£1,055
£1,055
£2,000,000
£1,255
£1,255
£2,500,000
£1,635
£1,635
£3,000,000
£2,035
£2,035
£3,500,000
£2,435
£2,435
£4,000,000
£2,835
£2,835
£4,500,000
£3,235
£3,235
£5,000,000
£3,635
£3,635
For a price or value exceeding £5 million, please contact the Society for further details.
If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.
All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.
Mortgage exit administration fee:
Payable on redemption of mortgage.
Early repayment charge:
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Overpayments:
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Standard features of all Hinckley & Rugby Buy to Let Mortgage Schemes
Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
Rental income of 145% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 145% at pay rate
For the re-mortgaging of buy-to-let properties already owned by you before 1 January 2017, the rental income must be at least 140% of the mortgage payment at a stressed rate
Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
Minimum loan £100,000 (existing members £50,000)
Minimum income £25,000
Minimum term 5 years
Interest calculated on a daily basis
No tied insurances
Minimum age for applicants 21
Tariff of charges during the life of any mortgage available on request
Mortgage repayment vehicle must be in place for interest only mortgages
For remortgages, the property must have been owned by the applicants for a minimum of 6 months
In addition to our normal underwriting policy requirements and the information in the individual product Key Features leaflets, the criteria below also apply:
You must be an existing homeowner in England or Wales
Underwriting will be based on information provided in a mortgage application form and supplementary Buy to Let questionnaire, together with satisfactory identification and references
The maximum loan that the Society can lend is dependent on the scheme, the price or current value of the property and the loan to value ratio as stated in the product. Full details are available on request
Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to an aggregate loan limit of £1,000,000
You may have up to 10 buy to let properties, of which no more than 3 in total are mortgaged including the current application
The Society will only normally accept property that is or will be let on an assured shorthold tenancy (maximum term 2 years) to a sole occupier or single-family unit
We will not normally consider the following types of property: converted flats, flats above commercial premises, flats in high-rise blocks, freehold flats, new build developments, properties with more than one kitchen, properties designed or converted for multiple occupation
Advice about letting your property
Buying a rental property is very different from buying a home to live in. It is strongly recommended that you take advice about purchasing property to let or on letting property you already own from an accredited body such as:
SPECIAL MORTGAGE SCHEME
SPECIAL MORTGAGE SCHEME
SPECIAL MORTGAGE SCHEME
MORTGAGE SCHEME
SPECIAL MORTGAGE SCHEME
SPECIAL MORTGAGE SCHEME