HomeBuy to Let ProductsGreen – Buy to Let 2 Year Discount 4.90% variable (3.14% off Landlord Variable Rate) (GB2YRD75)

Green – Buy to Let 2 Year Discount 4.90% variable (3.14% off Landlord Variable Rate)

GBD9 With effect from 01 September 2023

Our Green Mortgage products are available to existing borrowers pledging to use at least 50% of the additional funds for energy efficiency improvements.
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Initial Interest Rate

3.14% discount off the Society's Landlord Variable Rate for 2 years. Will not go below a floor of 2.25%.

4.90% variable
Max Loan to Value (LTV)

Maximum loan to value available:

Product Fees
Application fee
Completion fee
Overall Cost for Comparison

The overall cost for comparison

7.5% APRC representative

Please note your property may be repossessed if you do not keep up repayments on your mortgage.

Fee information

Application fee
Completion fee
Valuation fee
Free where the price or value of the property is £1million or less.
Fees reference table
Early repayment charge
During year 1: 2% of the amount repaid early plus fees During year 2: 1% 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 if you repay any amount in excess of 10% of the mortgage balance in any one year.
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage exit admin fee

Representative Example

A Mortgage of
A mortgage of £40,000
Payable term
Payable over 18 years
Initial rate and term
Initially on a discounted variable rate for 2 years of 4.90%
Followed by
Our Landlord Variable Rate of 8.04% for the remaining 16 years
Monthly payments
24 payments of £279.06 followed by 192 payments of £343.91
Total amount payable
The total amount payable would be £72,728.16 made up of the loan amount plus interest (£32,728.16)
Arrangement fee
Mortgage exit administration fee
Valuation fee
Cost for comparison
7.5% APRC representative

Standard Features

  • Available on properties in England and Wales
  • Minimum Loan Amount £10,000, Maximum Loan £40,000
  • 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
  • Interest Only Mortgages are available up to a maximum of 70% LTV provided a suitable repayment strategy such as equity within a second property owned by the applicants. Alternatively the sale of applicants’ residential security will be considered in the specific circumstance of the LTV being 60% or lower and subject to a review of the credibility of downsizing in the local area Minimum term 5 years
  • Normal maximum term 40 years, depending on age limits
  • Interest calculated on a daily basis
  • Applications accepted for advances on private dwelling houses of various types providing they are of Standard Construction
  • No tied insurances
  • Minimum age for applicants 18
  • Portable up to the existing mortgage balance
  • Tariff of charges during the life of any mortgage available on request
  • Available for Additional Borrowing for existing members only
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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:

  • National Residential Landlords Association
  • Propertymark

Further guidance and information is also available on the governments Money Helper Website

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Applying for a mortgage

New Mortgage Enquiry
e.g. Joe
e.g. Smith
e.g. example@example.com
e.g. 07123456789