Buy to Let Mortgages - Base Rate Tracker

In a nutshell:

A Lifetime Tracker mortgage available in Sterling linked to Bank of England Base Rate. 

Suitable for:

Any one of the following categories wishing to purchase or remortgage a UK residential property for Buy to Let purposes or indeed wishing to release equity in their property for any legitimate purpose:

• UK resident / Non UK domiciled
• UK resident / Not Ordinarily Resident (NOR) for UK tax purposes
• Non UK resident (either a UK expatriate or a foreign national residing outside the UK)
• UK resident / UK domicile (in certain circumstances).
  

Applicants may also be an Offshore Company or Trust

Key features:

• Minimum loan of £250,000
• Borrow up to 70% of the professional valuation of the property or of the purchase price, whichever is lower.
• New Build properties will, however, be restricted to a maximum 65% of the professional valuation of the property or of the purchase price, whichever is lower.
• Option to repay your mortgage early.
• Choice of interest only or repayment options
• Maximum of 10 properties per applicant(s).
• Rental Income must equate to a minimum 125% of the annual (interest only) costs based on the actual Pay Rate
• Tenancy - must conform to Assured Shorthold Tenancy (AST). Company Lets will also be considered. Multiple tenancies and ex-local authority properties are excluded.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Bank of England Base Rate (BBR) is currently 4.50%* (correct at 13th October 2008)

An Early Repayment Charge equivalent to 2% of the outstanding balance will apply if the mortgage is repaid within the first 3 years + £150 administration fee. Thereafter, a £150 administration fee will apply.

Please contact us if the Mortgage amount exceeds £2,000,000 or the Loan to Value ('LTV') is below 70% as preferential pricing may be available.

Rates and fees quoted are correct at 13th October 2008. Terms and conditions apply. The actual rate available will depend upon your circumstances. Please ask for a personalised illustration.

Call +44 (0)1624 644080 for more information.