Type: Buy-To-Let tracker mortgage
Tracker term: Three years
Tracker rate: 0.5% above the society’s standard variable rate
Payable rate: 5.79%
Minimum loan: No minimum for purchase, £30,000 for remortgage
Maximum loan: Up to 70% of valuation subject to a maximum of £150,000, up to 60% of valuation subject to a maximum of £250,000
Income multiples: Rental income must be at least 130% of the mortgage repayments calculated at the pay rate
Conditions: Capital repayments of up to 10% a year without penalty in the fixed-rate period subject to a £250 a month minimum, basic valuation fee refunded for remortgages, free legal fees for remortgages if the society’s solicitor is used, otherwise £150 towards legal costs, available direct and through intermediaries , available only for properties in Scotland
Arrangement fee: £699
Redemption fee: 3% of the amount repaid in the first three years
Introducer’s fee: 0.4% of the original loan subject to a £1,500 maximum
Contact: www.e-sbsm.co.uk
