Buy-to-Let Mortgage (subject to availability)

Available for loans up to 75% of the purchase price or valuation of the property, whichever is lower.

Interest Rate	Standard Variable Rate	Overall Cost For Comparison	Max Loan To Value
3.49%	5.99%	5.8% APRC	75%

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.

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.

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

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Please note: the example above is for a house purchase only. For remortgage applications, certain fees do not apply. Please see above for full details.

This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate European Standardised Information Sheet before you make a decision. For full details, please call our friendly team on 0800 378 669.

Product Reference: 242

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