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Buy To Let 2 Year Tracker Mortgage 75% LTV

Our Buy To Let 2 Year Tracker Mortgage is the one for you, if:

  • You need a mortgage for an investment property you will let out
  • You want your mortgage rate to track the Bank of England Bank Rate for the first two years
  • You want to borrow up to £250,000
  • You want to borrow up to the lower of 75% of the value or purchase price of your property

Ways to apply

In branch:
Book an appointment
By phone:
0845 603 6709

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

What are the rates?

  • 5.79% p.a.

    Bank of England bank rate plus 5.29% until 31/05/2014, then changing to our Standard Variable Rate (SVR) for the remainder of the mortgage

  • 5.3% APR

    The overall cost for comparison is 5.3% APR

  • 4.99% p.a.

    Our current Standard Variable Rate (SVR)

  • 75%

    Maximum Loan to Value (LTV) Maximum LTV

Product Fee:

£999

Early Repayment Charges:

4% of amount repaid until, 31 May 2014. See 'Fees and Charges' for details.

Maximum loan:

£250,000

Key facts

  • The rate for the first 2 years tracks the Bank of England Bank Rate. This means that your monthly repayments will fall if interest rates start to fall, although your payments will go up if the Bank Rate rises.

  • If you are remortgaging, you will not have to pay the usual legal fees we incur in securing your new mortgage, using our appointed solicitors.

  • LTV - You can borrow up to 75% of the value of your property (or 75% of the purchase price, if lower) up to a maximum loan of £250,000

  • A product fee of £999 is payable, which can be added to your mortgage as long as your total borrowing does not exceed 75% LTV.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Calculate Monthly Repayments

Enter an amount from £5000 to £500000.

£  
Repayment Type Repayment Type

Enter an amount from £5 to £25.

Years

Choose your mortgage details on the left, then click calculate costs.

You can adjust these details to see how different combinations affect your repayments and fee.

Please note:The actual rate available will depend on your personal circumstances.

You'll need to get a personalised illustration before you start the application process.

This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Important Information

  1. This mortgage is only available to people seeking to buy a property in order to let it.
  2. This mortgage is not available if you already own five or more buy to let properties with Principality mortgages secured on them or where the total portfolio lending with Principality exceeds £500k.
  3. Borrow from £25,001 up to £250,000 maximum.
  4. You must buy a property worth at least £50,000 (£75,000 in London postal districts).
  5. This kind of mortgage is not available for:
  6. • Multiple or short-term lets – for instance to students, DSS tenants or holiday lets
  7. • Flats above shops or other commercial properties
  8. • Buildings with more than 6 stories
  9. • `Right to buy` council homes
  10. • Properties being sold at auction
  11. Although the interest rate will not rise before the end of the fixed rate period other factors may result in your payments increasing before this date e.g. unpaid amounts being debited to your account.

Features:

  • Drawdown

    There is no such facility with this mortgage.

  • Payment holiday

    There is no payment holiday facility with this mortgage.

  • Overpayment

    There is no overpayment facility with this mortgage.

  • Underpayment

    There is no underpayment facility with this mortgage.

  • Borrow back

    There is no borrow back facility with this mortgage.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Fee, charges and incentives

  • Product fees

    A product fee of £999 is payable for this product. This fee can be added to your loan as long as your total borrowing does not exceed 75% LTV.

  • Valuation fees

    We will bear the cost of a Report and Valuation for Mortgage Purposes only. For further details please read the our, `Valuation and Inspection Schemes` leaflet.

  • Legal fees

    If you are remortgaging, you will not have to pay the usual legal fees we incur in securing your new mortgage by using our appointed solicitors. Please note that as the appointed solicitors will be acting only on behalf of Principality Building Society, you will have to pay for any additional legal work that the solicitors do which is beyond the usual scope of a simple remortgage, or if you wish them to act for you. There is no help with legal fees, if you are purchasing a property.

  • Early Repayment Charges

    You will incur an additional interest charge of 4% of the amount repaid amount if you repay in full, or 4% of the amount of capital repaid if you repay in part, on or before 31 May 2014.

  • Discharge fee

    £145.00 payable on full repayment of your mortgage.

  • Mortgage Payment Protection Insurance (MPPI)

    There is no free MPPI incentive with this mortgage.

  • Cashback

    There is no cashback facility with this mortgage.

Portability rules

  1. Your mortgage is portable to another property in England or Wales without requiring payment of any early repayment charges, except in the following circumstances:
  2. Where you already own the property to which you wish to transfer this mortgage
  3. Where the amount you wish to transfer to your new property is less than the balance outstanding at the time of transfer;
  4. Where you opt not to transfer your loan on its existing terms; or
  5. When you wish to port more than 2 accounts.
  6. You may not borrow additional sums on the terms governing the amount you wish to transfer. You may only borrow additional amounts by choosing another non-flexible product from our range current at the time.
  7. You or your new property do not meet our lending criteria current at the time of the transfer.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Other services to consider

Find out more

What can I do next?

Contact us by phone:

0845 603 6709

Find out more

What can I do next?

Contact us by phone:

0845 603 6709

Products previously viewed:

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

To help us maintain our service and security standards, telephone calls may be monitored or recorded. Your personal details may be used by Principality Building Society to contact you about your application.

Principality Building Society is authorised and regulated by the Financial Services Authority (Authorisation No. 155998). The Financial Services Authority does not regulate commercial or business related mortgages.