Buy to Let

If you have an existing BTL mortgage with us you may be able to borrow more money against your property. The additional money could be used to make repairs or improvements to your property or to help fund additional property purchases.

Important things you need to know:

  • There are no product or arrangement fees.
  • You can borrow up to 70% of the property's value including your existing mortgage.
  • The rental income must cover the total borrowing required using the current BTL calculation.
  • Your additional borrowing will be secured against your property.
  • A revaluation may be required.

If you would like to speak to one of our advisors about borrowing more simply contact your local branch to book an appointment or call 03450 502230.

During your appointment you will be asked a number of questions to help us understand your circumstances and assess affordability and based on the information you provide, our qualified advisor will confirm the options available to you.

Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

2 Year Fixed Rate Buy To Let

Initial fixed rate up to and inc. 31/12/19Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)†Max LTVProduct Fee
3.99% 5.74%5.5%70%£0
Max loan amount £999,999
RATES CORRECT AS AT 22 Aug 2017

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £30,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.99% and then on our current Buy to Let Variable Rate of 5.74% (variable) for the remaining 23 years would require 24 monthly payments of £99.75 and 276 monthly payments of £143.50.

The total amount payable would be £72,000.00 made up of the loan amount plus interest of £42,000.00 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparison is 5.5% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Additional Features

  • No Higher Lending Charge.
  • Maximum loan amount £999,999
  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 31 Dec 2019.
  • Free standard valuation up to £999
    • The actual rate available will depend on your circumstances. Ask for a personalised illustration.

Buy To Let Variable Rate

The Society's BTL Variable Rate (currently)Overall cost for comparison (APRC) †Max LTVProduct Fee
5.74%6.2%70%£0
Max loan amount £500,000
RATES CORRECT AS AT 1 SEP 2016

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £150,000 payable over 25 years on our Buy to Let Variable Rate for the mortgage term of 25 years at our current rate of 5.74% (variable) would require 300 monthly payments of £717.5.

The total amount payable would be £365,555 made up of the loan amount plus interest of £215,250 and application fee £0, product fee £0, valuation fee £270.

The overall cost for comparison is 5.9% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Additional Features

  • No Higher Lending Charge
  • Maximum loan £999,999.
  • Unlimited capital repayments allowed.
  • No Early Repayment Charges apply.
  • Interest is calculated daily.

The actual rate available will depend on your circumstances. Ask for a personalised illustration.