Let-to-Buy |
You may regard it as a long-term investment or as a relatively short-term arrangement whilst you are working elsewhere. Whatever your plan, we can provide a mortgage that is right for you. It is important for you to consider whether both mortgages are affordable, even if there are gaps or shortfalls in the rental income. Independent legal and tax advice should also be obtained. Key features of this mortgage |
There may be a variety of reasons for keeping your existing property and letting it out rather than selling it.| Minimum loan: | £25,001 |
| Maximum loan: | £500,000 |
| Value of property: | Not less than £75,000 |
| Max Loan to Value: | 75% of the property value |
| Current variable rate: | 7.19% * |
| Overall cost for comparison: | 7.50% APR * |
| Portable: | Yes |
| Ages: | Min 18 - no maximum |
| Income capacity: | Based on affordability |
| Valuation fee: | See Scale |
| Property location: | England and Wales |
| Repayment methods: | Repayment, interest-only, part & part |
| Arrangement fee: | £200 payable on completion |
| Administration Fee: | £25 |
| Available for new purchase: | Yes |
| Available for remortgage: | Yes |
| Early repayment charge: | For the first 3 years |
| Deeds Release fee: | £50 |
| Redemption fee: | £75 |
* The actual rate payable will depend upon your individual circumstances, please ask for a personalised illustration. Let-to-Buy mortgages are not usually regulated by the Financial Services Authority (FSA). Follow this link for information regarding Mortgage Regulation. To discuss your requirements, either complete our on-line Enquiry form or telephone our Mortgage Department on 01582 765411. Building insurance cover is required and can be arranged by the Society. |
The Society is authorised and regulated by the
Financial Services Authority