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The Mortgage Works – Lifetime Variable Rate Buy-To-Let Mortgage

The Mortgage Works – Lifetime Variable Rate Buy-To-Let Mortgage

Type: Buy-to-let variable rate mortgage

Term: Life of the loan

Payable rate: 4.99%

Minimum loan: £25,001

Maximum loan: 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 0.5% above the pay rate

Conditions: Capital repayments of up to 10% allowed without penalty within the early repayment charge period ending November 31, 2012, switch to fix facility available, not available for properties in Northern Ireland, unlimited properties allowed within a total maximum of £5m

Arrangement fee: 1.75% of the original loan subject to a £595 minimum

Redemption fee:  3% of the mortgage balance until November 31, 2012

Introducer’s fee: Refer to lender

Tel: 0845 601 0763

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