Buy to Let 2 Year Tracker Rate Mortgage
Track the Bank of England base rate for the first 2 years
Interest Rates
| Term | Tracker Rate |
Then you switch to our Buy to Let Variable Rate | The overall cost for comparison is | Maximum Loan | Amount you can borrow as a percentage of the value of the property | ||
|---|---|---|---|---|---|---|---|
| Purchase | Remortgage | Additional Borrowing | |||||
| 2 Years |
3.99% (current Bank of England base rate +3.49%) |
4.99% | 5.4% APR | £750,000 | 70% | 70% | 70% |
Features
- Borrow up to 70% of the property's value.
- Rental income must be at least 125% of the monthly mortgage interest payment based on the Buy to Let Variable Rate.
Please note
- Buy to Let Mortgages are not regulated by the FSA.
- The property must be let on an Assured Shorthold Tenancy (AST) agreement. Our normal requirements are for a minimum term of 6 months and a maximum term of 1 year.
- We regret that we are unable to lend on Houses in Multiple Occupation (HMOs).
- Each individual borrower will be limited to a maximum portfolio size of five Buy to Let properties with The Cambridge.
Fees
- Application fee* is equivalent to 3.5% of the loan amount.
- You will need to pay the property valuation fee for mortgage purposes, see our Mortgage Tariff of Charges page for more details. The fee is payable at the time of application and is non-refundable.
* The application fee can be added to the loan subject to the overall loan remaining within the specified percentage of the property’s value. If added to the loan, we will charge interest on the fee during the term of the loan.
Back to topEarly Repayment Charges
- During each 12 month period of the tracker rate term, you have the flexibility to make overpayments of up to 10% of the opening mortgage 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 Buy to Let Variable 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.
- If you sell your property during the tracker rate term, you may transfer the balance of the tracker rate mortgage to your next property, without penalty, subject to the new property meeting the Society's underwriting conditions at the time. The terms cannot, however, be extended to any further borrowing required if the product has been withdrawn.
- Your existing lender may impose an early repayment charge if you remortgage to us.
Apply Now
Phone
Call our Customer Contact Centre on
0845 601 3344
Mon-Fri: 8.30am - 8.30pm
Sat: 9.00am - 6.00pm
Sun: 11.00am - 5.00pm
Request a callback
Eligibility
This mortgage is available on Buy to Let properties located in the following counties:
- Bedfordshire
- Buckinghamshire
- Cambridgeshire (excluding City of Peterborough postcodes PE1, PE2, PE3, PE4, PE7 0--, PE7 8--)
- Essex
- Hertfordshire
- Norfolk
- Northamptonshire
- Suffolk
These mortgages are available for Buy to Let purchases, remortgages and additional borrowing.
All mortgages subject to security and status.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
