Lifetime Discount Portfolio Rate Switch Mortgage (Buy-to-Let & Holiday Let ONLY)

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.

D648

None

75% LTV

No minimum loan size.

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

Maximum combined loan for multiple properties: £3,000,000

For a minimum of 1 and a maximum of 20 rental properties (Buy-to-Let and/or Holiday Let Only).

Mixed Repayment/ Interest only mortgages will be considered.

During the first 5 years any additional amount repaid above the 25% permitted will be subject to an Early Repayment Charge of 5% of the amount repaid in year 1, 4% of the amount repaid in year 2, 3% of the amount repaid in year 3, 2% of the amount repaid in year 4 & 2% of the amount repaid in year 5.

There is no extended tie in. 

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 during the life of the product of up to 25% of the balance outstanding when the product was taken out without incurring an Early Repayment Charge. However, any additional amount repaid above the annual 25% permitted will be subject to an Early Repayment Charge. 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.

None

• This product is only available for existing portfolios that consist of Buy-to-Let properties, Holiday Let properties or a mixture of the two. 
• 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. With our portfolio range, the maximum Loan to Value can be assessed across the entire portfolio.
• Whilst there is flexibility to add, remove and substitute properties within this portfolio, the product is not portable to another mortgage within the Society.  If a property is added, removed or substituted during the life of this mortgage, the entire portfolio will need to be reviewed and assessed at a cost of £150 administration fee. Any valuation or legal fees incurred will need to be paid by the applicant(s). 
• For loans greater than £3,000,000 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.