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The Mortgage Works – Buy-to-Let First time Landlords 3-Year Fixed 5.69%

The Mortgage Works – Buy-to-Let First time Landlords 3-Year Fixed 5.69%

Type: Fixed-rate buy-to-let mortgage

Fixed term: Until November 30, 2013

Fixed rate: 5.69%

Minimum loan: £25,001

Maximum loan: Up to 75% of valuation subject to a maximum of £350,000, up to 65% of valuation subject to a maximum of £1m, up to 50% of valuation subject to a maximum of £1.5m

Income multiples: Rental income must be at least 125% of the mortgage repayments calculated at the pay rate

Conditions: Capital repayments of up to 10% a year allowed without penalty in the fixed-rate period, available to applicants who have not owned and let a buy to let property for the last six, available  for property purchase only

Arrangement fee: 2.5% of original loan subject to a £595 minimum

Redemption fee: 5% of the amount repaid in the first three years

Introducer’s fee: Refer to lender

Tel: 0845 601 0763

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