PRODUCT CODE - DSB11

This is a 4.78% 2 year discounted variable rate mortgage.  A 25% deposit is required.

This mortgage is available for Unregulated Buy to Let purchases and remortgages and is not available for product switches.

This product has a cashback feature of £250.

A free valuation package is available for standard remortgages in England, Scotland and Wales.

A minimum EPC rating of E is required for the property.

A 2% early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years

The minimum loan amount is £50,000 and the maximum loan amount is £750,000.

The maximum term available is 40 years.

This mortgage has a £995 fee which can be added to the mortgage or paid up front.  This product has a floor rate.

If the product fee is added to the loan it must not exceed the maximum LTV.

There may be other fees and charges when taking out a mortgage with us – please see mortgage fees and charges for more information

Representative Example

A mortgage of £200,000 payable over 25 years initially on a fixed rate for 2 years at 4.78% and then on a discount rate for 3 years at 6.75% and then on our Buy to Let Mortgage Variable Rate (BTL MVR) of 8.24% (variable) for the remaining 20 years would require 24 monthly payments of £800.73, 36 monthly payments of £1,130.74 and 240 monthly payments of £1,380.34.

The total amount payable would be £592,345.02 made up of the loan amount plus interest (£592,225.02), an application fee of £995, a valuation fee of £300 a CHAPS Fee of £25.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 7.7% APRC representative.

Please note the example above is for a house purchase on an Interest Only repayment basis.