For loans up to 60% of property value
|Product name||Buy to let fixed rate - Interest Only - Over 1m GBP - London and South East only|
|Initial rate expires on|
31st December 2020
|Rate thereafter||Offset variable Investment Housing Loan Rate, currently |
|Overall cost for comparison||5.3% APRC|
|Option to add arrangement fees to mortgage||Yes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type|
|Eligibility||This product is exclusively available for properties in London and South East only. Please speak to your Relationship Partner for further details. Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required.|
|Maximum loan amount||£1.5 million|
|Maximum loan to value||60%|
|Minimum loan amount||£1 million|
|Early repayment charge||3% in year one|
2% in year two
|Special offers||Remortgage: Legal fees and valuation paid for remortgages only #|
At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.
# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. When using products available for mortgages over £1m which benefit from the switching package incentive, the switching package is enhanced to allow one free valuation for properties worth £3m or less (standard free legals remain limited to properties worth £2m or less).