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Buy to Let

Buy-to-Let & Consumer Buy-to-Let 

If your client is ​looking to remortgage or purchase a property specifically for letting purposes, or has decided to let an existing residential property, we could help.

Here's our handy flowchart for Regulated Buy-to-Let and Consumer Buy-to-Let classification guidance.

Please note:

  • Portfolio landlords ​cannot be considered. Our Buy-to-Let mortgage ​is only available to customers who will hold, personally or via limited companies, 3 or less mortgaged Buy-to-Let properties following completion of the transaction.
  • Regulated Buy-to-Let cases cannot be considered
  • Maximum LTV is 75%
  • At least one applicant must have a minimum income of £25,000 (or a combined income of £40,000 if a joint application)

For more information about our Buy-to-Let criteria, see our full Lending Criteria here


Buy-to-Let Mortgage 25% Deposit 3.49% Variable
3.49% 5.99% 5.6% APRC 75% £899 £99

Key Features

Variable rate

A variable rate, currently ​3.49%, which is discounted by 2.50% from our Buy-to-Let Standard Variable Rate for the first 2 years. It then changes to our Buy-To-Let Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.9% APRC representative.

What you Pay

  • Daily interest.
  • An arrangement fee of £899 is payable with the application.
  • An application fee of £99 (non-refundable) is payable with the application.
  • A valuation fee is payable.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • £100 cashback for NEU members upon completion.

Who can apply and more information

  • Minimum income of main applicant is £25,000 (£40,000 if joint application).
  • Minimum property value of £75,000.
  • Minimum loan amount £50,000.
  • Not available for houses in multiple occupancy (must be sole occupant, couple or single family unit).
  • Not available for first-time buyers or professional landlords.
  • A single assured shorthold tenancy agreement will be required.
  • Property cannot be let to family members.
  • Available for home purchase and remortgage applications.
  • This mortgage is not portable.

Your home may be repossessed if you do not keep up repayments on your mortgage

Representative Example

A mortgage of £157,000 over 29 years initially on a discounted variable rate of 3.49% (equal to a 2.50% discount off our SVR)  for 2 years and then on our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £456.61 and 324 monthly payments of £781.24.

The total amount payable would be £422,650.95 made up of the loan amount plus interest (£264,095.45) with a funds transfer fee of £25, mortgage application fee of £99, mortgage arrangement fee of £899, basic valuation of £330, legal fees of £117.50 and a mortgage exit fee of £85.

The overall cost for comparison is 5.9% APRC representative.

This is based on an interest only mortgage. 

 

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice

Holiday Let Mortgage 25% Deposit 3.69% Variable
3.69% 5.99% 5.9% APRC 75% £1299 £99

Key Features

Variable rate

A variable rate, currently ​3.​69%, which is discounted by 2.30% from our Buy-to-Let Standard Variable Rate for the first 2 years. It then changes to our Buy-To-Let Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.9% APRC representative.

 

What you Pay

  • Daily interest.
  • An arrangement fee of £1,299 is payable with the application.
  • An application fee of £99 (non-refundable) is payable with the application.
  • A valuation fee is payable.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

 

What we Pay

  • £100 cashback for NEU members upon completion.

Who can apply and more information

  • Minimum income of main applicant is £25,000 (£40,000 if joint application).
  • Minimum property value of £75,000.
  • Minimum loan amount £50,000
  • Not available for first-time buyers or professional landlords.
  • Available for home purchase and remortgage applications.
  • This mortgage is not portable.

Your home may be repossessed if you do not keep up repayments on your mortgage

Representative Example

A mortgage of £157,000 over 29 years initially on a discounted variable rate of 3.69% (equal to a 2.30% discount off our BTL SVR)  for 2 years and then on our Buy to Let Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £482.78 and 324 monthly payments of £781.16.

The total amount payable would be £423,653.98 made up of the loan amount plus interest (£264,698.48) with a funds transfer fee of £25, mortgage application fee of £99, mortgage arrangement fee of £1,299, legal fees of £117.50, a basic valuation fee of £330 and a mortgage exit fee of £85.

The overall cost for comparison is 5.9% APRC representative.

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice