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Precise Mortgages – Buy-To-Let Lifetime Tracker

Precise Mortgages – Buy-To-Let Lifetime Tracker

Type: Buy-to-let tracker mortgage

Tracker term: Life of the loan

Tracker rate: 5.25% above Libor

Payable rate: 5.89%

Minimum loan: £25,001

Maximum loan: Up to 75% of valuation subject to a maximum of £300,000

Income multiples: Rental income must be at least 125% of the monthly interest payment calculated at the initial tracker rate

Conditions: Available only through selected distribution partners available only for properties in England and Wales, only one property allowed at a time and no more than four buy-to-let properties allowed with other lenders

Arrangement fee: 3% of the original loan plus £280 assessment fee

Redemption fee: 3% of the amount repaid in the first three  years

Introducer’s fee: Up to 0.5% of the original loan

Tel: 0800 116 4385

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