Your home may be repossessed if you do not keep up repayments on your mortgage
Buy to Let
If you want to buy a property to let out, you can choose between our Fixed Rate and Base Rate Tracker mortgages.
Fixed Rate Mortgage
Good to know
- You can borrow up to 75% of the value of the property – depending on its location
- Your rate is fixed for 2, 3 or 5 years - it's your choice
- Repay your mortgage over as many as 25 years
- A portable mortgage, so you may be able to transfer it to another property
- Knowing your repayments will not change will help you budget during the fixed term
Base Rate Tracker Mortgage
Good to know
- You can borrow up to 75% of the value of the property – depending on its location
- Repay your mortgage over as many as 25 years
- You can make lump sum or overpayments at any time without incurring a charge
- No Early Repayment Charge if you choose to repay your mortgage early
Need to know
- Whether we provide credit depends on your circumstances, and you must be 21 or over - lending terms and conditions apply
- Your home is security for your mortgage, and you may also need to provide other security
- A servicing account will be required
- You may have to pay an Early Repayment Charge
- A product fee will apply
- When you reach the end of your Fixed Rate period, you will automatically move to our Standard Variable Rate
Need to know
- Whether we provide credit depends on your circumstances, and you must be 21 or over - lending terms and conditions apply
- Your home is security for your mortgage, and you may also need to provide other security
- A servicing account will be required
- A product fee will apply
- Your mortgage repayments may go up as well as down
- Not a portable mortgage so you cannot transfer it to another property
Representative example
A mortgage of £81,000 payable over 17 years initially on a fixed rate for 2 years at 3.18% and then on our current variable rate of 4.85% (variable) for the remaining 15 years would require 28 monthly payments of £514.55 and 176 monthly payments of £574.49.
The total amount payable would be £115,516.39 made up of the loan amount plus interest (£34,516.39). A product fee (£999), valuation fee (£175) and mortgage exit fees (£125) are also payable.
The overall cost for comparison is 4.7% APRC representative.
The actual rate will depend on your circumstances, please ask for a personalised illustration.
Other important information
- The lower your loan to value the lower your margin of interest.
- The bank only provides mortgages in sterling and will not consider Buy to Let applications where the applicant's income is in another currency.
- Repayments are made monthly.
- Interest is calculated daily and charged quarterly.
- When you take out a mortgage you are borrowing against the value of your property.
- When you come to sell your property you will need to use the sale’s proceeds to repay your outstanding mortgage balance. Be aware that if the value of your property falls below the balance of your mortgage, then you will have to pay us the difference if you want to sell your property.
Terms and conditions
- You will have to pay for an independent professional. We will arrange this for you.
- You may have to pay fees such as legal charges, which are not paid through us.
- You must have buildings insurance in place on your property. You do not have to arrange this through us. Where the property is not owner occupied, you should arrange to have special insurance in place to cover public liability.
- For full details on charges please see our Tariff of Mortgage Charges.
- If your mortgage term takes you beyond normal retirement age, we may ask you to provide us with evidence that you’ll be able to afford your repayments after you stop working.
