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Categories:Mortgages

Mortgage Trust - Buy-To-Let 2-Year Tracker

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Mortgage Trust - Buy-To-Let 2-Year Tracker

Type: Buy-to-let tracker mortgage

Tracker term: Two years

Tracker rate: 3.4% above Libor

Payable rate: 4.5%

Minimum loan: £30,000

Maximum loan: Up to 75% of valuation subject to a maximum of £500,000

Income multiples: Rental income must be at least 125% of the mortgage repayments calculated on an interest-only basis at the rate of 5%

Conditions:  Unlimited overpayments in initial tracker period, up to five properties allowed within a maximum loan of £1m across the Paragon Group, available for properties in England and Wales

Arrangement fee: 3% of the original loan

Redemption fee: 5% of the original loan on full redemption only in the first two years

Introducer’s fee: Refer to lender

Tel: 0845 849 4055

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