60% LTV Holiday Let Mortgage
- You need a mortgage for an investment property to let out
- You'll know exactly what your payments are each month during the fixed period
- You have the certainty of a fixed interest rate
- You're able to borrow up to 60% of the value or purchase price of your property (LTV)
- Borrow from a minimum of £140,000
- You're able to borrow up to a maximum of £1,000,000
- Product fee £1,395
- Free valuation
- There is no assistance with legal fees
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 £208,896 payable over 20 years initially on a fixed rate for 5 years at 4.50% and then on our standard variable rate of 7.60% (variable) for the remaining 15 years would require 60 monthly payments of £783.36 and 180 monthly payments of £1,323.01. The total amount payable would be £494,112.40 made up of the loan amount plus interest (£285,216.40), 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 6.6% 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.
