Home – LTD Company – Buy to Let 5.65% fixed to 28/02/30 (LB5YRF704)

LTD Company – Buy to Let 5.65% fixed to 28/02/30

LCF28 With effect from 18 November 2024

Initial Interest Rate

5.65% fixed

Max Loan to Value (LTV)

70%

Product Fees

1% of loan balance (non-refundable)

Overall Cost for Comparison

6.9% APRC representative

Fee information

Application fee

Free

Completion fee

1% 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 £261,186 (a loan of £258,600 plus a completion fee of £2,586 added to the loan)

Payable term

Payable over 25 years, based on a start date of 01/03/25

Initial rate and term

Initially on a fixed rate of 5.65% until 28/02/30

Followed by

Our Landlord Variable Rate of 7.54% for the remaining 20 years

Monthly payments

60 payments of £1,627.39 followed by 240 payments of £1,888.32

Total amount payable

The total amount payable would be £551,630.20 made up of the loan amount plus interest (£289,654.20) 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