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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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01633 844 351
3.00% Discount Limited Company Buy-To-Let Remortgage - 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 RENTAL PROPERTY MAY BE REPOSSESSED.

Interest Rates
Period of Loan Rate Payable
Months 1-24

Initial Variable Rate, Currently:

3.00%

(2.24% discount)

Month 25 onwards

Standard Variable Rate, Currently:

5.24%

Overall cost for comparison 5.1% APRC

Interest Rates are variable. All discounts are off our Standard Variable Rate. If our Standard Variable Rate changes, your monthly repayments could go up or down.

Product Fee

£1499

Loan Size

Minimum loan size: £40,000

Maximum loan size for any single property: £1,000,000

Maximum combined loan for multiple properties: £2,000,000

Properties

For a minimum of 1 and maximum of 3 Buy-to-Let properties

Repayment Type

Mixed Repayment/ Interest only mortgages will be considered.

Early Repayment Charge (ERC)

During the first 2 years any additional amount repaid above the 5% permitted will be subject to an Early Repayment Charge of 2% of the amount repaid in year 1 and 1% of the amount repaid in year 2.

Overpayments

Regular overpayments are not permitted during the life of the product. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You can make capital repayments each year during the life of the product of up to 5% of the balance outstanding when the product was taken out without incurring an Early Repayment Charge. However, any additional amount repaid above the annual 5% permitted will be subject to an Early Repayment Charge of 2% of the amount repaid in year 1 and 1% of the amount repaid in year 2. Following receipt of a lump sum payment, the amount of capital you owe will be re-calculated and the amount of interest you pay will be reduced immediately.

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. The loan to value must be no greater than 75%. If the new loan is for less than this loan or you do not transfer these terms, an early repayment charge calculated at 2% of the amount repaid in Year 1 and 1% of the amount repaid in Year 2 is payable on the difference in the amount of this loan and the amount transferred.
  • For loans greater than £1,500,000 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 £169,038.00 payable over 25 years and 6 months initially on a discount rate for 2 years at 3% and then on our current variable rate of 5.24% for the remaining 23 years and 6 months, would require 24 monthly payments of £791.05 and 282 monthly payments of £987.35.

The total amount payable would be £299,816.90 made up of the loan amount plus interest (£128,379.90) and Mortgage Exit Fees (£125.00), Product Fee (£1,499.00), Telegraphic Transfer Fee, (£25.00), Valuation Fee (£350.00), Administration Fee (£150.00), Legal Fees (£250.00 - This is an estimated amount and may change).

The overall cost for comparison is 5.1% APRC representative.