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Holiday Let 2 Year Fixed Remortgage (subject to availability)

Available for loans up to 75% of the purchase price or valuation of the property, whichever is lower.
3.49% 5.99% 5.7% APRC 75%

Key Features

Fixed rate

A fixed rate of 3.49% for the first 2 years (fixed until 14/06/2023). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.7% APRC.

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 remortgage applications only.
  • This mortgage is not portable.

Representative Example:

A mortgage of £184,000.00 over 27 years initially on a fixed rate of 3.49% (Ending on 14 June 2023) and then our Standard Variable Rate of 5.99% for the remaining term, would require 35 monthly payments of £535.13 and 289 monthly payments of £915.48.

The total amount payable would be £468,428.87 made up of the loan amount plus interest (£283,320.87) with a Application Fee of £99.00, Arrangement Fee of £899.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 5.7% APRC representative.

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

Please note: the representative example 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: 489


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