60% LTV Holiday Let Mortgage
- You need a mortgage for an investment property to let out
- You're are able to borrow up to 70% of the value or purchase price of your property (LTV)
- You're able to borrow up to a maximum of £500,000
- No valuation fee
- Legal fees paid for remortgages
IF YOU FAIL TO KEEP UP WITH PAYMENTS ON YOUR MORTGAGE A 'RECEIVER OF RENT' MAY BE APPOINTED AND/OR YOUR RENTAL PROPERTY MAY BE REPOSSESSED
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A mortgage of £130,000 payable over 25 years initially on a fixed rate for 2 years at 2.13% and then on our standard variable rate of 4.40% (variable) for the remaining 23 years would require 24 monthly payments of £230.75 and 276 monthly payments of £476.67. The total amount payable would be £267,171.92 made up of the loan amount plus interest (£137,171.92), a product fee (£0.00), valuation fee (£0.00), telegraphic transfer fee (£8.00) and discharge fee (£65.00). The overall cost for comparison is 4.2% APRC representative
Why Principality?
- 6th largest UK building society
- A mutual building society, owned by and run for the benefit of our 500,000 members
- Over 160 years experience
- Taking care of over £12 billion of our customers' assets
- Members can access a Member Rewards page featuring competitions, discounts and more.
