2 Year Fixed Rate at 5.99% - Holiday Let
Product Overview
Initial fixed rate for 2 years
5.99%
Maximum LTV
85%
The overall cost for comparison is
8.4%
APRCProduct Fee
£995
Your home may be repossessed if you do not keep up repayments on your mortgage.
PRODUCT CODE - HLFIX87
This is a 5.99% 2 year fixed rate mortgage. A 35% deposit is required.
This mortgage is only available for product switches.
An early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. This charge will be applied on a sliding scale of 3% in the first year and 2% in the second year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years.
The minimum loan amount is £20,000 and the maximum loan amount is £1,000,000.
The maximum term available is 35 years.
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 £150,000 payable over 23 years initially on a fixed rate for 2 years at 5.99% and then on our Buy to Let Mortgage Variable Rate (MVR) of 8.54% for the remaining 21 years would require 24 monthly payments of £748.74 and 252 monthly payments of £1,067.50.
The total amount payable would be £437,994.00 made up of the loan amount plus interest (£436,980.00), an application fee of £995 and a Mortgage Discharge Fee of £120.
The overall cost for comparison is 8.4% APRC representative.
Please note the example above is for a product switch on an Interest Only repayment basis