Product Summary:Available for loans up to 70% of the purchase price or valuation of the property, whichever is lower.
| Product |
Rate |
Max %
Property Value |
Arrangement Fee |
|
3 Year Variable Buy to Let Mortgage (Teachers / Existing Borrowers Only) |
5.74% |
70% |
£999 |
Please call our mortgage
consultants to apply 0800 378 669
|
Key Features:
- Variable rate of 5.74% which is plus 0.75% on the Society's standard variable rate for the first three years then changing to our standard variable rate which is currently 4.99% and remaining on our variable rate terms for the rest of the mortgage.
- Arrangement fee of £999 is payable with the application
- A valuation fee is payable
- A maximum of 4 tenants will be allowed subject to the rental property not being classified by the local authority as a 'House in Multiple Occupation'
- A Short-hold Tenancy Agreement will be required for a minimum period of 6 months
- The rental income must be a minimum of 130% of the mortgage payment calculated on an interest rate of 7%
- An Early Repayment Charge of 5% on the amount repaid will be applied during the first three years, but you can overpay by up to 20% of the loan outstanding per calendar year without charge
- A suitable Buildings Insurance Policy must be arranged
For full details, call us free on 0800 378 669 or email your details to teachers@teachersbs.co.uk
Your property may be repossessed if you do not keep up repayments on your mortgage
Information correct as at 1st April 2009.
Flexi Features Available - click here to find out more.
