Buckinghamshire
Building Society Buy-To-Let Mortgages
Buckinghamshire Building Society Buy-To-Let Mortgage
Considering
buying a property to let?
Considering
buying a let property as an investment?
Or
perhaps you're an existing landlord contemplating remortgaging?
Then why not take a look at Buckinghamshire Building Society
Residential Investment Scheme?
Buckinghamshire
Building Society combine a flexible attitude with an interest
rate that matches their Standard Variable Rate. So talk to
them. After all, they are there to help you build a better
future.
Scheme
Details
(Purchase or remortgage of residential property which are
let subject to an assured shorthold tenancy agreement)
Minimum/Maximum
Loan
£50,000 up to £500,000.
Number
of Properties
Any number of properties within total borrowing limit of £500,000.
Maximum
Loan to Value
75% if advance is funded by rental income. 80% if advance
is supported by personal income in addition to rental income.
Income
Mortgage payment must not exceed 75% of rental income.
Repayment
Method
Capital and Interest, or interest only with an acceptable
repayment vehicle.
Term
Minimum 5 years.
Maximum 25 years.
Buildings
Insurance
Not compulsory with the Society ’s Insurers. Applicants
may make their own insurance arrangements.
Arrangement
Fee
Negotiable. £250 minimum, £500 maximum if several
properties are involved.
Valuation
Fee
Normal Scale.
Redemption
Penalty Clause
In the event of a part capital repayment in excess of 10%
of the capital balance, or redemption of the mortgage within
the first year, a redemption penalty of 1.50% of the sum repaid
will be charged (Written notice of intention to redeem will
not be accepted). No penalty will be charged to those borrowers
who return to the Society for new mortgage facilities.
For
further information on a Buckinghamshire Building Society
Buy-To-Let Mortgage visit the Buckinghamshire Building Society
Website.
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