Abbey 3yr 7.04% Fixed BTL LTV 75% Direct only Mortgage

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Abbey 3yr 7.04% Fixed BTL LTV 75% Direct only Mortgage Details

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Abbey 3yr 7.04% Fixed BTL LTV 75% Direct only Mortgage Features & Benefits

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Feature / BenefitSummaryDetails
Application Criteria:
Available in Branch Onlynonot just available in branch.
Existing Customers OnlynoThis mortgage is not just available to existing customers
Existing Borrowers OnlynoThis mortgage is not just available to existing borrowers.
Remortgage OnlynoThis is not just available for remortgages.
First Time Buyers OnlynoThis mortgage is not just available to first time buyers.
Available Via a Broker OnlynoAvailable direct.
Minimum Deposit25%25%
Maximum Age85 yearsThe maximum age is 85 years.
Minimum Age21 yearsThe minimum age is 21 years.
Minimum Income£25,000
Applicants who are not professional landlords must have a minimum non-rental income of £25,000 pa for one Buy to Let held with Abbey. For each additional...expand
Available DirectyesThis product is available direct from the provider.
Rates:
Initial Rate APR7.04%7.04%
Repayment Basisinterest only mortgage paymentRental cover is calculated on an interest only basis using the current pay rate (or the Standard Variable Mortgage rate whichever is higher).
Initial Rate End Date02 Mar 201302 Feb 2013
Final Rate4.24%The standard variable rate is 4.24%
Mortgage APR6.4%6.4%
Fixed Rate End Date02 Mar 2013Fixed until 02/03/2013
Fixed Rate Term36 months36 months.
Rate TypefixedThe product rate type is fixed.
Frequency of Interest CalculationsdailyInterest is calculated daily
Suitability:
Mortgage TypeBuy To LetBuy To Let
Repayment Mortgageyesyes
Interest Only Mortgageyesyes
Endowment Mortgageyesyes
Maximum LTV75%75%
Maximum Advance Per Property£500,000The maximum advance per property is £500000
House Purchase Max LTV75%The maximum loan to value for house purchase is 75% LTV 75% to £500,000
RemortgageyesThis product is available for remortgage.
Remortgage Max LTV75%The maximum loan to value for remortgage is 75% LTV 75% to £500,000
First Time BuyersnoThis product is not available to first time buyers.
Existing Borrowers Moving HomeyesThis product is available for existing borrowers moving home.
Existing Borrowers Not Moving HomenoThis product is not available for existing borrowers not moving home.
HomemoveryesThis product is available for house purchase.
Shared OwnershipnoNot available for shared ownership.
Right to BuynoNot available for right to buy.
Earned Income AllowedyesEarned income is allowed.
Portfolio Buy to LetnoNot a buy to let portfolio product.
Maximum Overall Portfolio Value£5,000,000Maximum portfolio loan is £5000000
Student LetsyesStudent Lets are considered, maximum of 3 tenants.
Let to BuynoNot available for let to buy.
Holiday LetsyesHoliday homes are considered, the property must have been a holiday let for at least 3 years.
Restrictions:
Maximum Term30 yearsThe maximum term is 30.
Minimum Term5 yearsThe minimum term is 5 years.
Rental Income Required125%Minimum rental income 125%
Maximum Number of PropertiesUnlimitedLandlords with up to 15 properties no restriction on number mortgaged to Abbey. Landlords with more than 15 properties, Abbey exposure limited to 15 plus 20% of excess.
Incentives:
Legal Fees ContributionnoNo legal fees incentive available.
No Higher Lending ChargeyesNo higher lending charge payable.
Facilities:
Portable MortgageyesThe product is portable.
Flexible PaymentsnoNo flexible options available.
Overpayments AvailableyesUp to and including 10% of the loan may be repaid each year without penalty. Minimum £500.
Payment HolidaynoPayment holidays are not available.
Fees & Charges:
Application Fee £varies
£2,499 booking fee payable. £225 mortgage account fee payable upon completion or deferred until redemption. (The fee is fixed, does not incur interest,...expand
Application Fee Added to LoanyesThe booking fee can be added to the loan.
Early Repayment ChargeyesThere is an early redemption charge payable.
Early Repayment Charge Amount3%ERC - 3% of outstanding amount repaid until 02/04/2013.

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  • You can get £25,100 remortgage minimum loan.
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  • Minimum rate of 3.49 percent is available.
  • New customers get gross gross or net payment from this mortgage.
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  • Get minimum loan of £30,000.
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Nationwide Flex 3yr BBR + 2.49% Tracker H/P LTV 70% Ex/B

  • Nationwide gives maximum loan of £1,000,000.
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Yorkshire BS Flexi 3yr 4.39% Fxd R/M LTV 75% Direct

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Stonehaven Lifetime 7.54% Fixed Lump Sum Plus (Age 65-69)

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RBS 2yr BBR + 2.69% LTV 80% Royal/Priv/Bus/Direct Ex/B

  • The mortgage has a mortgage APR of 4%.
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