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About
Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Get in touch
Telephone
01633 844 351
1.99% Discount Buy to Let Purchase - Max LTV 75%
This mortgage product offers a variable interest rate that is discounted below our Standard Variable Rate for the first 2 years. At the end of the discount period interest will revert to our Standard Variable Rate.

IF YOU FAIL TO KEEP UP WITH PAYMENTS ON YOUR MORTGAGE A ‘RECEIVER OF RENT’ MAY BE APPOINTED AND/OR YOUR PROPERTY MAY BE REPOSSESSED.

Interest Rates
Period of Loan Rate Payable
Months 1-24

Initial Variable Rate, Currently:

1.99%

(3.25% discount)

Month 25 onwards

Standard Variable Rate, Currently:

5.24%

Overall cost for comparison 4.7% APRC

Interest Rates are variable. All discounts are off our Standard Variable Rate. 

Product Fee

No Product Fee

Loan Size

£40,000 to £1,000,000 for any single property

Repayment Type

Mixed Repayment/ Interest only mortgages will be considered.

Overpayments

Regular overpayments will be permitted without an early repayment charge.

Further Information
  • The maximum Loan to Value is the amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured.
  • These terms may be transferred to any new loan up to the amount of this loan, provided it is used for Buy-to-Let purposes, completes at the same time as redemption of this loan and you still meet the Society’s lending criteria at that time. All loans must be secured on a residential property within Wales & England. The loan to value must be no greater than 75%.
  • For loans greater than £1,000,000 please contact us.
  • Mortgage interest is calculated on a daily basis.
  • Our Tariff of Mortgage Charges gives details of the charges payable in connection with mortgage applications and additional administration following completion of your loan.
  • Loans available to persons aged 21 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.

Representative Example

A mortgage of £84,361.00 payable over 20 years and 1 month initially on a discount rate for 2 years at 1.99% and then on our current variable rate of 5.24% for the remaining 18 years and 1 month, would require 24 monthly payments of £424.93 and 217 monthly payments of £552.61.

The total amount payable would be £130,873.39 made up of the loan amount plus interest (£45,753.69) and Despatch Of Title Deeds Fee (£50.00), Mortgage Discharge & Sealing Fee (£75.00), Telegraphic Transfer Fee (£25.00), Valuation Fee, on application. (£208.70), Administration Fee, on application (£150.00), Legal Fees (Estimated £250.00).

The overall cost for comparison is 4.7% APRC representative.