BM Solutions 1yr BBR + 5.35% BTL LTV 75% Mortgage Features & Benefits
(currently displaying summary information only)| Feature / Benefit | Summary | Details | Rating out of 5 | ||
|---|---|---|---|---|---|
| Application Criteria: | |||||
| Permanent UK Resident |  | yes | This product is only available to individuals who are permanent UK residents. | ||
| Existing Customers Only | | no | This mortgage is not just available to existing customers | ||
| Existing Borrowers Only | | no | This mortgage is not just available to existing borrowers. | ||
| Remortgage Only | | no | This is not just available for remortgages. | ||
| First Time Buyers Only | | no | This mortgage is not just available to first time buyers. | ||
| Available Via a Broker Only | | yes | Available via brokers only. | ||
| Minimum Deposit | | 25% | 25% | ||
| Maximum Age | | 75 years | The maximum age is 75 years at the end of the mortgage term. |  | |
| Minimum Age | | 18 years | The minimum age is 18 years. |  | |
| Minimum Income | | £25,000 | Minimum income of £25000.00 is required. | | |
| Available Direct | | no | This product is not available direct from the provider, but may be available from a broker or other intermediary | ||
| Rates: | |||||
| Initial Rate APR | | 5.85% | 5.85% | | |
| Repayment Basis | | interest only mortgage payment | Rental cover is calculated on an interest only basis using the current pay rate. | ||
| Tracker Loading on Lender's Base Rate or SVR | | 5.35% | 5.35% | ||
| Lender's Base Rate or SVR for Trackers | | 0.5% | Bank Base Rate 0.50% | ||
| Final Rate | | 4.69% | 4.69% | | |
| Mortgage APR | | 5.1% | 5.1% | | |
| Rate Type | | bbr | The product rate type is BBR. | ||
| Frequency of Interest Calculations | | daily | Interest is calculated daily | ||
| Suitability: | |||||
| Mortgage Type | | Buy To Let | Buy To Let | ||
| Repayment Mortgage | | yes | Yes | ||
| Interest Only Mortgage | | yes | Yes | ||
| Endowment Mortgage | | yes | Yes | ||
| Maximum LTV | | 75% | 75% |  | |
| Maximum Advance Per Property | | £1,000,000 | The maximum advance per property is £1000000 | | |
| House Purchase Max LTV | | 75% | The maximum loan to value for house purchase is 75% LTV 75% to £1,000,000 | | |
| Remortgage | | yes | This product is available for remortgage. | ||
| Remortgage Max LTV | | 75% | The maximum loan to value for remortgage is 75% LTV 75% to £1,000,000 | | |
| First Time Buyers | | yes | This product is available to first time buyers. | ||
| First Time Buyer Max LTV | | 75% | The maximum loan to value for first time buyers is 75% LTV 75% to £1,000,000 | | |
| Existing Borrowers Moving Home | | yes | This product is available for existing borrowers moving home. | ||
| Existing Borrowers Not Moving Home | | no | This product is not available for existing borrowers not moving home. | ||
| Homemover | | yes | This product is available for house purchase. | ||
| Shared Ownership | | no | Not available for shared ownership. | ||
| Right to Buy | | no | Not available for right to buy. | ||
| Earned Income Allowed | | no | Earned income is not allowed. | ||
| Portfolio Buy to Let | | no | Not a buy to let portfolio product. | ||
| Maximum Overall Portfolio Value | | £3,000,000 | The maximum overall lending is £3000000 (which applies to Buy to Let lending across the HBOS group). | | |
| Student Lets | | no | This product is not available for student lets. | ||
| Let to Buy | | yes | This product is available for Let to Buy. | ||
| Holiday Lets | | no | This product is not available for holiday lets. | ||
| Restrictions: | |||||
| Maximum Term | | 40 years | The maximum term is 40 years. | ||
| Minimum Term | | 5 years | The minimum term is 5 years. | ||
| Rental Income Required | | 125% | Rental income must cover 125% of the proposed (interest only) mortgage payment. | ||
| Maximum Number of Properties | | 9 | Maximum number of properties 9 allowed held across the HBOS Group (Birmingham Midshires, Bank of Scotland, and Halifax). |  | |
| Incentives: | |||||
| Legal Fees Contribution | | no | No legal fees incentive offered. | ||
| No Higher Lending Charge | | yes | No higher lending charge payable. | ||
| Facilities: | |||||
| Portable Mortgage | | yes | This product is portable. | ||
| Flexible Payments | | no | No flexible options available. | ||
| Overpayments Available | | no | Overpayments are not available. | ||
| Payment Holiday | | no | Payment holidays are not available. | ||
| Fees & Charges: | |||||
| Application Fee £ | | varies | £2,250 product fee payable based on a loan of £150,000 @ 1.50%. £275 mortgage account fee payable upon completion. The fee will be added...expand | ||
| Application Fee Added to Loan | | yes | Product fee can be added to the loan. Mortgage Account fee will be added to the loan. | ||
| Early Repayment Charge | | yes | There is an early redemption charge payable. | ||
| Early Repayment Charge Amount | | 3% | ERC - 1.50% of amount repaid for 2 years. | ||
| Early Repayment Charge Term | | 12 months | ERC for 12 months. | ||
Apply for this mortgage: | |||||
