HomeRetentions ProductsLTD Company Retentions – Buy to Let 2 Year Discount 6.50% variable (1.54% off Landlord Variable Rate) (RLB2YRD70)

LTD Company Retentions – Buy to Let 2 Year Discount 6.50% variable (1.54% off Landlord Variable Rate)

LCD11 With effect from 01 September 2023

Initial Interest Rate
i

1.54% discount off the Society's Landlord Variable Rate for 2 years. Will not go below a floor of 2.25%.

6.50% variable
Max Loan to Value (LTV)
i

Maximum loan to value available:

70%
Product Fees
i
Application fee
Free
Completion fee
Free
Free
Overall Cost for Comparison
i

The overall cost for comparison

8.0% APRC representative

If you fail to keep up with repayments on your mortgage a ‘receiver of rent’ may be appointed and/or your rental property may be repossessed.

Fee information

Application fee
Free
Completion fee
Free
Valuation fee
Not applicable
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
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage exit admin fee
£150 (non-refundable)

Representative Example

A Mortgage of
A mortgage of £199,936
Payable term
Payable over 26 years
Initial rate and term
Initially on a discounted variable rate for 2 years of 6.50%
Followed by
Our Landlord Variable Rate of 8.04% for the remaining 24 years
Monthly payments
24 payments of £1,329.41 followed by 288 payments of £1,519.43
Total amount payable
The total amount payable would be £469,651.68 made up of the loan amount plus interest (£269,565.68) plus the fees below
Arrangement fee
Free
Mortgage exit administration fee
£150 (non-refundable)
Valuation fee
Free
Cost for comparison
8.0% APRC representative

Standard Features

  • Available on properties in England and Wales
  • Additional borrowing is available for existing mortgages
  • Interest calculated on a daily basis
  • Portable up to the existing mortgage balance
  • Tariff of charges during the life of any mortgage available on request
Click to view all

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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