Buy to Let Fixed Rate until 15 June 2029 – XIB057

A mortgage of £180,375.00 payable over 25 years initially on a fixed rate of 5.39% until 15 June 2029 and then on our current standard variable rate of 8.89% for the remaining 19 years 10 months would require 61 monthly payments of £1,097.58 and 238 monthly payments of £1,438.13; plus one initial interest payment of £796.90.

The total amount payable would be £412,307.22 made up of the loan amount, plus interest and fee(s) totalling £231,932.22. This includes Application Fee (£199), Valuation Fee (£180), Legal Fees (£255), Chaps Fee (£25), Completion Fee (£1,499) and Redemption Administration Fee (£125).

The overall cost for comparison is 7.7% APRC representative.

A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.

The interest rate is fixed until 15 June 2029 and if our Standard Variable Rate (SVR) reduces during this time, you will not benefit from any reductions to your monthly mortgage payments. When you come to the end of the fixed rate term, we will write to you again to offer you another new deal and you can either choose to accept this deal, remortgage to another lender, or should you do nothing, revert onto our Standard Variable Rate (SVR). If you revert onto our SVR after the fixed rate term, the interest rate becomes variable and may go up or down.

Borrowers can make overpayments between 1 January and 31 December each year during the fixed rate period of up to 10% of the original loan amount without incurring an Early Repayment Charge.

Any lump sum payments or regular overpayments received in a single calendar year, which in total exceed 10% of the original loan amount will incur an Early Repayment Charge on the amount of the excess. The Early Repayment Charge is a percentage fee of your current balance.

Any Early Repayment Charge will be waived if a new consecutive mortgage for at least the amount outstanding at the time of redemption is taken out with us. If a new mortgage for at least the amount outstanding at the time of redemption is taken out with us within 3 months of full repayment then any early repayment charge will be refunded.

The fee charged is normally based on the purchase price of the property at the time of inspection. Where the purchase price is preferential or where the price is not known at the time of inspection, the fee charged will be based on the valuation figure. Unless otherwise stated in the product features, a basic valuation fee is payable by the applicant(s).

You can find out more including the fee scale in our Mortgage Valuation Fees document.

Unless otherwise stated, our mortgage products are available for house purchase or remortgage. All our mortgage products are subject to availability and can be withdrawn at any time.

All mortgage applications are manually underwritten by our experienced underwriters and are subject to a full assessment against our lending criteria.

It is important that you take time to read and understand the mortgage product features detailed above and the information about our Residential or Buy to Let mortgages detailed in the General Information Guides.

All of the mortgages shown are available direct from us via our qualified sales team, please call on the number above, request a call back, or submit a detailed contact request to find out more.

To get an indication of whether this mortgage is right for you, you can use our repayment calculator to see what the potential monthly repayments might be.