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Buy to Let

Buy-to-Let & Holiday Let

If you're a teacher looking to remortgage or purchase a property specifically for letting purposes, our variable rate Buy-to-Let mortgages could be the answer.

Please note: If you are looking to buy a Buy-to-Let property, please call us on 0800 378 669 for an indication of how much we may be able to lend.

Buy-to-Let & Holiday Let Mortgages

Buy-to-Let Mortgage (subject to availability) 25% Deposit 3.49% Variable
3.49% 5.99% 5.8% 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 5.8% 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 £202,000.00 over 26 years initially on a discounted variable rate of 3.49% (equal to a 2.50% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £587.48 and 288 monthly payments of £1005.13.

The total amount payable would be £507,034.28 made up of the loan amount plus interest (£303,596.28) with a Application Fee of £99.00, Arrangement Fee of £899.00, Funds Transfer Fee of £25.00, Basic Valuation of £330.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 5.8% APRC representative.

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice

Holiday Let 2 Year Variable Rate Mortgage 25% Deposit 3.99% Variable
3.99% 5.99% 5.9% APRC 75% £999 N/A

Key Features

Variable rate

A variable rate, currently 3.99%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our 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.
  • A valuation fee is payable for all properties worth £800,000 or more.

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

  • The first valuation fee for properties worth less than £800,000

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 £202,000.00 over 26 years initially on a discounted variable rate of 3.99% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £671.65 and 288 monthly payments of £1004.99.

The total amount payable would be £508,687.87 made up of the loan amount plus interest (£305,578.87) with a Arrangement Fee of £999.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

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

Holiday Let 2 Year Variable Rate Remortgage 25% Deposit 3.99% Variable
3.99% 5.99% 5.9% APRC 75% £999 N/A

Key Features

Variable rate

A variable rate, currently 3.99%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our 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.
  • A valuation fee is payable for all properties worth £800,000 or more.

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

  • The first valuation fee for properties worth less than £800,000
  • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

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 £202,000.00 over 26 years initially on a discounted variable rate of 3.99% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £671.65 and 288 monthly payments of £1004.99.

The total amount payable would be £508,687.87 made up of the loan amount plus interest (£305,578.87) with a Arrangement Fee of £999.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

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

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE