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The Mortgage Works – Fixed Rate Buy-to-Let Mortgage

Type:
Fixed-rate buy-to-let mortgage

Fixed term:
Until August 1, 2006, 2007 or 2009

Fixed rate:
5.99%

Minimum loan:
£25,001

Maximum loan:
Up to 80% of valuation subject to a maximum of £350,000, up to 70% of valuation up to £500,000, up to 60% of valuation subject to a maximum of £1m

Income multiples:
Rental income must be at least 130% of mortgage repayments for loans up to 80% of valuation, at least 120% of mortgage repayments for loans up to 75% of valuation, at least 100% of mortgage repayments for loans up to 65% of valuation

Conditions: Capital repayments of up to 10% a year allowed without penalty

Arrangement fee: 0.5% of original loan subject to £395 minimum
Redemption fee: 5% of amount repaid until August 1 2006, 2007 or 2009

Introducer&#39s fee:
0.4% of original loan

Tel: 0845 6010763

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