Interest rates and key features
Borrow up to 70% of your property's value for house purchases, additional borrowing and remortgaging.
| 3.99% | which is the current base rate plus 3.49%. After two years you switch to our Commercial Base Rate, currently | |
| 5.59% | and remain on variable rate terms for the rest of the mortgage. | |
| The overall cost for comparison is 5.9% APR | ||
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Buy to Let Two Year Tracker Mortgage Key Features
Fees
- Application fee is equivalent to 3.5% of the initial loan amount.
- Rental income must be at least 135% of the monthly mortgage interest payment based on the initial interest rate of the mortgage.
- We pay the property valuation fee for mortgage purposes.
- No higher lending charge.
Overpayments & Early repayment charge
- During each 12 month period of the Tracker rate term, you have the flexibility to make overpayments of up to 10% of the opening balance. The opening balance is reset every year on the anniversary of the completion of your mortgage. Any amount repaid over this limit will incur a charge equal to 3% of the excess overpayment.
- If you switch your loan to another lender, a different mortgage deal with us, or repay it in full before the end of the Tracker rate term, you will have to pay an early repayment charge equal to 3% of the outstanding balance
- At the end of the Tracker rate term your mortgage will switch to our Commercial Base Rate Mortgage. You will then be able to make as many overpayments as you wish or pay off your mortgage without incurring an early repayment charge.
How much can I borrow?
- Borrow up to 70% of your property's value.
Please note
- Each individual borrower will be limited to a maximum portfolio of five properties with the Cambridge Building Society
- We do not lend against Houses in Multiple Occupation (HMO's)
- Buy to Let Mortgages are not regulated by the FSA.
