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Godiva Mortgages – +4.49% BBR Tracker

Godiva Mortgages

+4.49% BBR Tracker

Type: Buy-to-let tracker mortgage

Tracker term: Until September 30, 2011

Tracker rate: 4.49% above the Bank of England base rate

Payable rate: 4.99%

Minimum loan: £25,001

Maximum loan: Up to 60% of valuation subject to a maximum of £1m

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

Conditions: Capital repayments of up to 5% a year allowed without penalty, one free valuation up to £670, free legal fees or £200 contribution towards legal costs for remortgages, maximum of three properties allowed within £1m maximum

Flexible features: Payment holidays up to three months a year after six months, interest calculated daily

Arrangement fee: £800 plus £250 booking fee

Redemption fee: 4% of the amount repaid in the first two years

Introducer’s fee: Subject to negotiation

Tel: 0845 757 3612

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