Mercantile
Building Society Buy-To-Let Mortgages
Mercantile Building Society Buy-To-Let Mortgage
Please
Note: Mercantile Building Society are now a part of Leeds Building Society
AVAILABILITY
Mortgage
secured on properties purchased and let on an assured shorthold
tenancy.
The scheme applies to purchases of up to five properties.
The
Mercantile Building Society loan can be on the repayment or
interest only method, linked to an endowment, ISA or other
approved repayment vehicle.
This
scheme is only available in the North East of England.
MINIMUM DEPOSIT
75%
of investment valuation. Discount is below Mercantile variable
Base Mortgage Rate
LOAN
LIMITS
The minimum loan £25,000, and the maximum loan £250,000.
We need copies of the tenancy agreements. The rent must be
at least 150% of the mortgage interest payable.
VALUATION
FEE
Refer
to the valuation options shown on their ' Mortgage Guide'.
No copy of the report will be provided.
INSURANCE
Mercantile Building Society can provide buildings insurance.
Ask for details.
BOOKING
FEE
Ensure a cheque is forwarded with your application to reserve
funds. A
£295 non-refundable booking fee is payable to reserve
funds.
For
further information on a Mercantile Building Society Buy-To-Let
Mortgage visit the Mercantile Building Society Website.
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