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Scottish Building Society – 3-Year SVR + 0.5% Buy-To-Let

Scottish Building Society – 3-Year SVR + 0.5% Buy-To-Let

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

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