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Coventry Intermediaries- Godiva Buy to Let Capped Tracker

Coventry Intermediaries- Godiva Buy to Let Capped Tracker

Type: Capped rate tracker mortgage

Tracker term: Until July 31, 2014

Tracker rate:3.3% above the Bank of England base rate

Payable rate: 3.8%

Capped term: Until July 31, 2014

Capped rate: 5.3%

Minimum loan: £25,001

Maximum loan: Up to 65% of valuation subject to a maximum of £500,000, up to 50% of valuation subject to a maximum of £1m

Income multiples: Rental income must be at least 125% of the mortgage repayments

Flexible features: Overpayments, payment holidays of up to three months a year after the first six months

Conditions: Capital repayments of up to 5% a year allowed without penalty in the tracker period, remortgage transfer service, free valuation up to £700

Arrangement fee:£999 plus £250 booking fee

Redemption fee:3% of the mortgage balance in the first two years plus £125 admin fee

Introducer’s fee: Refer to lender

Tel: 0845 757 3612

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