Buy to Let 2 Year Fixed Rate Mortgage (% fee)
2 year peace of mind with a lower rate but a fee that varies depending on the amount you borrow
Looking for a mortgage for your buy to let property? Our 2 year fixed rate charges a higher administration fee but you will benefit from a lower fixed rate than our standard Buy to Let 2 Year Fixed Rate.
| Initial rate | 7.04% fixed until 1 June 2010 |
|---|---|
| The rate will then revert to our standard variable rate for the remainder of the mortgage term, currently | 7.24% |
| The overall cost for comparison | 7.5% APR |
| Arrangement fee | 1% of the loan subject to a minimum of £995 (added to your loan unless you tell us otherwise) |
| Legal fees | You are responsible for your own legal costs |
| Maximum loan to value ratio | 70% |
| Higher lending charge | Applies if the price or valuation of your property (whichever is lower) is over 90% of the loan amount |
| Valuation fee | This fee is variable dependent on the price of your property. More valuation fee information |
| Early repayment charge | 4% of the sum repaid until 1 June 2010 |
Your home may be repossessed if you do not keep up repayments on your mortgage
All mortgage pages must be read in conjunction with the important information (mortgages) page.
Notes- There is an arrangement fee of 1% of the loan amount subject to a minimum of £995. For example, on a mortgage of £145,000 the fee would be £1,450. This fee will be added to the loan or you can pay it separately. Interest will be payable on fees added to the loan.
- The fixed rate may be withdrawn if you are more than three months late in paying any money due under the terms of the mortgage.
- Not available to existing Chelsea borrowers.
- Where the price or value of the property is greater than £250,000 the maximum loan may be restricted. Further details are available from your local branch or by calling us on 0800 345 7744.
- Maximum permitted loan of £1,000,000.
- Overpayments of up to 20% of the outstanding balance permitted each year.
- Applicants must be aged 21 years or over and currently have a residential or Buy to Let mortgage.
