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The Mortgage Works – 3 Year Fixed Rate Buy-To-Let

The Mortgage Works

3 Year Fixed Rate Buy-To-Let

Type: Fixed rate buy-to-let mortgage

Fixed term: Until October 10, 2008

Fixed rate: 4.99%

Minimum loan: £25,001

Maximum loan: Up to 90% of valuation subject to a maximum of £500,000, up to 85% of valuation subject to a maximum of £750,000, up to 80% of valuation subject to a maximum of £1m, up to 70% of valuation subject to no maximum

Income multiples: Rental income must be at least 115% of mortgage repayments

Conditions: Rental income requirements may be reduced to 100% for loans up to 85% of valuation

Arrangement fee: 1% for loans up to 90% of valuation, none for loans up to 85% of valuation, 1% for loans up to 85% of valuation if income requirement is reduced to 100%

Redemption fee: 5% of amount repaid in first three years, 2% in years four and five

Introducer’s fee: 0.4% of original loan

Tel: 0845 6010763

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