2 Year Fixed Rate Buy to Let Mortgage
Try our mortgages help centre
Relax knowing how much you will pay for 2 years
You will pay our fixed rate of 2.48% for 2 years, then revert to our Buy to Let Variable Rate for the rest of the mortgage term – currently 5.89%.
The overall cost for comparison is 5.4% APRC
The minimum deposit you will need at this rate is 25% of the purchase price.
Representative example
A mortgage of £144,104.00 payable over 20 years initially on a fixed rate for 2 years at 2.48% and then on our Buy to Let Variable Rate of 5.89% for the remaining 18 years would require 24 monthly payments of £765.98 and 216 monthly payments of £1,002.30.
The total amount payable would be £235,354.32 made up of the loan amount plus interest (£89,951.32), an application fee of £199.00, a completion fee of £800.00, a valuation fee of £275.00 and a mortgage funds release fee of £25.00.
This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.
The overall cost for comparison is 5.4% APRC representative.
Fees
Based on the information you've provided the fees you would have to pay are:
£199.00 application fee
which is payable at the time of application and is non-refundable
£800.00 completion fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)
£800.00 product switch fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)
£800.00 Further advance 'completion' fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)
A valuation isn't normally required for a product switch.
If you want to do more than a product switch, like change your LTV it might be best to have a new valuation, take a look at our guide for more information.
When borrowing additional funds you may require a revaluation if the value of your property has changed since you originally took your mortgage out with us. If substantial changes have been made to your property you may require a full standard valuation, take a look at our guide for more information.
£ for a standard valuation or £ for a standard valuation and homebuyer survey
For the purpose of the mortgage you'll only need to pay for a standard valuation. Valuation fees are payable at the time of application and are non-refundable. For more information about the different types of valuations and surveys, why we need it and what we use it for take a look at our guide
We will pay for a standard valuation. There are other types of valuations available, for more information on these, why we need a valuation and what we use it for take a look at our guide
For remortgages we'll pay the standard legal fee for switching your loan, using our partner conveyancing firm. If any additional legal work is required that is not normally associated with a remortgage, such as rectifying title defects, transfers of equity or other legal matters, the firm will advise you of the cost and you'll be responsible for any fees incurred.
Early repayment charges
These are the charges that will apply to your mortgage if you want to overpay or repay early.
Can I make overpayments?
While in your fixed rate term you can make overpayments of up to 10% of your mortgage balance during every 12 month period without having to pay an early repayment charge.
This 10% overpayment allowance is calculated using the balance of your mortgage at the time it completes. Each 12 month period starts on the anniversary of your mortgage completing.
If you choose a new mortgage deal with us at any point we’ll use this balance and date to calculate your overpayment allowance.
Any amount repaid over 10% of your mortgage completion date balance will incur an early repayment charge equal to:
- 3% of the excess overpayment in year one
- 2% of the excess overpayment in year two
What if I want to repay early?
If you switch your loan to another lender, a different mortgage deal with us, or repay it in full before the end of the fixed rate term, you’ll have to pay an early repayment charge equal to:
- 3% of the outstanding balance in year one
- 2% of the outstanding balance in year two
What if I want to switch my Buy to Let mortgage to another property?
During the term of your Buy to Let mortgage you can’t transfer the balance and remaining term of the mortgage to a new property.
What happens at the end of my fixed rate deal?
At the end of the fixed rate term, your mortgage will revert to our Buy to Let Variable Rate Mortgage and you’ll pay our Buy to Let Variable Rate for the remainder of the mortgage term. From this point you’ll be able to make as many overpayments as you like without incurring any early repayment charges. We’ll write to you when your fixed rate comes to an end to provide you with full details of our Buy to Let Variable Rate Mortgage.
Eligibility
Before we agree your mortgage we’ll need to establish that you can afford to meet the monthly payment.
This mortgage is available on Buy to Let properties located in England and Wales.
This mortgage is available for Buy to Let purchases, remortgaging, product switch and additional borrowing.
Features
- Borrow up to 75% of the property's value
- Rental income must be at least 140% of the monthly mortgage interest payment based on an interest rate of 5.50%
Please note
- Buy to Let Mortgages are not regulated by the FCA
- The property must be let on an Assured Shorthold Tenancy (AST) agreement. Our normal requirements are for a minimum term of six months and a maximum term of one year
- We regret that we're 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 Building Society. The total portfolio must not exceed £2,000,000 of borrowing
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Need help? Let us call you
My name is , I am .Please call me on +44(0) , We will only use the information you provide to respond to your request. Your personal information will not be used for any other purpose.
Send me details
of the 2 Year Fixed Rate Buy to Let Mortgage
We promise not to give your email to anyone else