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Godiva Mortgages -Buy To Let Two Year Tracker

Godiva Mortgages

Buy To Let Two Year Tracker

Type: Buy-to-let tracker mortgae

Tracker term: Until December 31, 2009

Tracker rate: 0.3% above the Bank of England base rate

Payable rate: 6.05%

Minimum loan: £25,001

Maximum loan: Up to 65% of valuation subject to a maximum of £1m

Income multiples: Rental income must be at least 100% of the mortgage repayments

Conditions: Capital repayments of up to 5% a year allowed without penalty, one free valuation up to £680, free legal fees for remortgages if in-house solicitors used or £200 contribution, up to 10 properties allowed within a total maximum of £2m, not available for properties in Northern Ireland and the Scottish Isles

Flexible features: Overpayments, payment holidays of up to three months a year, interest calculated daily

Arrangement fee: £1,000 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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