About Us
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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Telephone
01633 844 351

4.40% Fixed Buy to Let Rate Switch - Max LTV 75%

This mortgage product offers a fixed interest rate for the first 2 years. At the end of the fixed period, the interest rate 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.

Period of Loan
Rate Payable
Months 1 - 24
4.40%
Month 25 Onwards
Standard Variable Rate, Currently: 8.39%
Overall Cost For Comparison
7.7% APRC

 

171F

£1499

75% LTV

No minimum loan. 

Maximum loan £1 million for any single property or £3 million aggregate lending over a maximum of 3 properties.

Interest only, Repayment or Mixed repayment / Interest only.

During the first 2 years any additional amount repaid above the 10% permitted will be subject to an Early Repayment Charge of 3% of the amount repaid in years 1 & 2.

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 10% of the balance outstanding when the product was taken out without incurring an Early Repayment Charge. However, any additional amount repaid above the annual 10% 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

  • The maximum Loan to Value is the amount of a mortgage loan expressed as a percentage of the purchase price or valuation, whichever is the lower.
  • Available in England and Wales.
  • These terms can 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. If the new loan is for less than this loan or you do not transfer these terms, an early repayment charge calculated at 2% is payable on the difference in the amount of this loan and the amount transferred. All loans must be secured on a residential property within Wales & England. The loan to value must be no greater than 75%.
  • For loans greater than £1,000,000 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.
Representative example:
A mortgage of £121,962.93 payable over 15 years and 8 months initially on a fixed rate for 2 years at 4.40% and then on our current standard variable rate of 8.39%, for the remaining 13 years and 8 months, would require 24 monthly payments of £898.97 and 164 monthly payments of £1,135.98.
The total amount payable would be £209,375 made up of the loan amount plus interest (£85,913.07) and Product Fee (£1,499.00).
The overall cost for comparison is 7.7% APRC representative.