60% LTV Buy To Let Discount Mortgage
- You need a mortgage for an investment property to let out
- Your rate will be a discount on our SVR
- Your're able to borrow up to 60% of the value or purchase price of your property (LTV)
- You're able to borrow up to a maximum of £500,000
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
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A mortgage of £127,900 payable over 22 years initially on a variable rate for 2 years at 1.80% and then on our standard variable rate of 5.05% (variable) for the remaining 20 years would require 24 monthly payments of £191.85 and 240 monthly payments of £538.25. The total amount payable would be £261,869.40 made up of the loan amount plus interest (£133,969.40) and a product fee (£0.00) and valuation fee (£0.00). The overall cost for comparison is 4.7% APRC representative.
Why Principality?
- 6th largest UK building society
- A mutual building society, owned by and run for the benefit of our 500,000 members
- Over 160 years experience
- Taking care of over £11 billion of our customers' assets
- Members can access a Member Rewards page featuring competitions, discounts and more.
