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2.99% BTL 3 year discount of 2.50% from BTL SVR [BL72]

Follow on rate BTL SVR currently 5.49%.
The overall cost for comparison is 5.1% APRC

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Available for both individual landlords and limited companies with a maximum of three Buy-to-Let mortgaged properties.

There is a collar of 2.99% on this product which means the rate during the discount period will not go below that rate.

  • No upper age limit
  • Available for non homeowners whose accomodation is tied to their work
  • 1st time landlords must be an existing homeowner

Available for both individual landlords and limited companies with a maximum of three Buy-to-Let mortgaged properties.

There is a collar of 2.99% on this product which means the rate during the discount period will not go below that rate.

  • Initial Rate, a discount of 2.50% from our BTL SVR for 3 years
    2.99% variable, but which will not go below a floor of 2.99% during this period.
  • Followed by our Buy To Let Standard Variable Rate (BTL SVR) for the rest of the term
    5.49% variable
  • The overall cost for comparison is
    5.1% APRC
  • Maximum Loan to Value
    75% including fees
  • Product Fee, which can be added to the loan.
    £1,195
  • Early Redemption charge
    Charges will apply to any lump sum or full redemption paid over 10% of the capital balance
    1.50% in year 1
    1.00% in year 2
    0.50% in year 3
  • Application Fee
    None
  • No upper age limit
  • Available for non homeowners whose accomodation is tied to their work
  • 1st time landlords must be an existing homeowner

Representative Example

A mortgage of £328,000 payable over 20 years initially at a discount of 2.50% from our Buy to Let Standard Variable Rate, currently 5.49%, giving a pay rate of 2.99% for 3 years and then on our BTL Standard Variable Rate, currently 5.49%, for the remaining 17 years would require 36 payments of £820.31 and 204 payments of £1,506.18.
The total amount payable would be £666,744.88 made up of the loan amount plus interest (£336,791.88), a product fee (£1,195), a funds trandsfer fee (£25), valuation fee (£485), solicitors fees (£148) and an exit fee (£100).
The overall cost for comparison is 5.1% APRC representative.

Further Information

Fees

  • Product fee £1,195. This may be added to the loan subject to the maximum LTV.
  • Solicitors and licensed conveyancers fees are not based on a set scale and solicitors must be approved by Buckinghamshire Building Society.
  • Proc fees are 0.40% capped at £4,000.

Other charges may be made in respect of mortgage services. See our Fees Guide for details.

Acceptable Credit Criteria

This product accepts our standard credit criteria click here for details

Early Repayment Charge (ERC)

Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.

  • 1.50% in year 1
  • 1.00% in year 2
  • 0.50% in year 3

Overpayments

During the early repayment charge period lump sum overpayments up to 10% of the capital balance per annum may be made without attracting an early repayment charge. Should the total of lump sum overpayments exceed 10% within this period, the excess will attract an early repayment charge.

Once the early repayment charge period has ended overpayments can be made at any time.
If an overpayment of £500 or more is made, we will recalculate the monthly payment the following month.

Affordability

Enter the client's details into the affordability calculator and assessment below.

BTL affordability calculator and assessment form

BTL limited company affordability calculator and assessment form

If your columns are red then please contact us as other product options may be available. Minimum income £25,000.

Repayment

This mortgage is available on a capital and interest repayment basis or interest only with a suitable repayment vehicle. Payments must be made monthly by direct debit.

Age Limits

The minimum age is 21 for all applicants. There is no maximum age. Cases are considered on individual circumstances.

Loan Size

Minimum loan size £25,000.

Maximum loan size £750,000 up to 75% LTV 

Mortgage Term

The maximum mortgage term is 40 years dependent on individual circumstances.

Portability

This product is not portable.

Energy Performance Certificate (EPC)

All BTL properties being mortgaged to the Society require an EPC rating of between A and E. The Society will not lend on properties with an EPC rating of F and G.

Interest

Interest is calculated daily on the balance outstanding and added to the account the following month.

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