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Home – LTD Company – Buy to Let 4.89% fixed to 31/08/29 (LB5YRF702)

LTD Company – Buy to Let 4.89% fixed to 31/08/29

LCF25 With effect from 03 May 2024

Initial Interest Rate
i

Fixed until 31/08/29 from date of completion.

4.89% fixed
Max Loan to Value (LTV)
i

Maximum loan to value available:

70%
Product Fees
i
Application fee
Free
Completion fee
5% of loan balance (non-refundable)
5% of loan balance (non-refundable)
Overall Cost for Comparison
i

The overall cost for comparison

6.9% APRC representative

Fee information

Application fee
Free
Completion fee
5% of loan balance (non-refundable)
Valuation fee
Please see the table at the link for details of the applicable fee.
Fees reference table
Early repayment charge
During year 1: 5% of the amount repaid early plus fees During year 2: 4% of the amount repaid early plus fees During year 3: 3% of the amount repaid early plus fees During year 4: 2% of the amount repaid early plus fees During year 5: 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
£125 (non-refundable)

Representative Example

A Mortgage of
A mortgage of £243,495 (a loan of £231,900 plus a completion fee of £11,595 added to the loan)
Payable term
Payable over 26 years, based on a start date of 01/09/24
Initial rate and term
Initially on a fixed rate of 4.89% until 31/08/29
Followed by
Our Landlord Variable Rate of 8.04% for the remaining 21 years
Monthly payments
60 payments of £1,380.35 followed by 252 payments of £1,787.25
Total amount payable
The total amount payable would be £533,998.00 made up of the loan amount plus interest (£289,713.00) plus the fees below
Arrangement fee
Free
Mortgage exit administration fee
£125 (non-refundable)
Valuation fee
£415
Cost for comparison
6.9% APRC representative

Standard Features

  • Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
  • Rental income of 125% of the mortgage payment at a stressed rate required, except for 5 Year Fixed Rate mortgages (where available) where the interest coverage requirement is 125% at pay rate
  • Maximum number of rental properties is 3 per household with Hinckley & Rugby Building Society
  • Minimum loan £100,000 (existing members £50,000)
  • No minimum income required
  • Minimum term 5 years
  • Interest calculated on a daily basis
  • No tied insurances
  • Minimum age for applicants 18
  • Tariff of charges during the life of any mortgage available on request
  • Mortgage repayment vehicle must be in place for interest only mortgages
  • For remortgages, the property must have been owned by the applicants for a minimum of 6 months
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