Barclays 6.99% Fixed Rate Buy to Let Mortgage

1. Free non-disclosed valuation through our nominated valuer and free remortgage legal fees through our nominated solicitor or cashback.

2. Minimum lease allowed 50 years on maturity of mortgage.

3. The lender will use an affordability calculation based on the anticipated rental income.

4. Gross annual rental income must cover the annual mortgage interest payment by 125% at product pay rate.

5. Lending will be restricted to LTV 65% for applications where the borrower/director is a foreign national.

6. Clients wishing to exceed £1,000,000 are priced on a case by case basis.

7. Application fees are payable up-front, reduced by £75 for repeat business.

8. Assured Shorthold Tenancy (must be for a minimum term of 6 months and maximum term of 2 years) to the following tenant types: a single household e.g. individual / couple / family unit a single AST for sharing students or professionals.

9. Company and or corporate lets (minimum term of lease 6 months) Note: Premium Leases, where all rent is paid in advance of the start of the tenancy, are not acceptable.

10. College and/or University Head Tenancy Schemes (minimum term of lease 6 months).

11. Lease to registered Housing Association and/or Local Authority (minimum term of lease 6 months).

12. Letting to a related person of the applicant or directors / shareholders of a SPV Limited company or letting to diplomatic tenants and or embassies or direct to DSS tenants, holiday lets, regulated and or sitting tenants, HMOs (i.e. Houses in Multiple Occupation) and Premium Leases where all rent is paid in advance at the start of the tenancy are unacceptable.

13. Capital repayments up to 10% allowed each year without penalty.

14. Scheme is fixed until 02/02/2014 then Barclays Bank Base Rate (currently 3.00%) plus 1.19% for term.

15. Application fee is 1.5% (minimum £1500).