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Cheltenham & Gloucester 6.69% Fixed Rate Buy to Let Mortgage

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Cheltenham & Gloucester Fixed Rate Buy to Let Mortgage details

    
Lender: Cheltenham & Gloucester
Rate:6.69% until 28/02/2014
APR:6.0%
Interest charged: Daily
Product Type: Fixed Rate

Mortgage Conditions
Early Redemption Penalty:
N.B. If you redeem the new mortgage early you will also be liable to the following additional penalty.		5% until 28/02/2010 then 4%, 3% then 2% until 28/02/2014 of the balance repaid
Life Insurance Required:

Additional Features
Notes:

1. Max LTV 75% (65% LTV limit for new-build flats).

2. Not more than 9 let properties with LTSB Group (total loan amount of no more than £5 million).

3. Rental income will either by 120% based on current pay rate or 125%. The amount will depend on total borrowing with Lloyds TSB Group and will also take into account pre tax income. Please refer for full details to lender.

4. Property must be of good quality & A1 condition and not divided into separate units.

5. Must be professionally managed.

6. Should be assured shorthold tenancy.

7. Lender charges interest on a daily basis.

8. Buy to let Standard Variable Rate 5.00%.

9. Product fee 2.50% plus up front application fee of £99 (application fee is valid for up to 12 months).

10. Maximum loan for first time buyers is £500k , minimum income required (excluding rental income) is at least £35k  before tax.

   

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

These figures are given for illustrative purposes only and do not constitute advice based on your specific circumstances. Before proceeding with any regulated mortgage contract you will be provided with a full Key Facts Illustration which will detail the exact terms, conditions and costs of any particular contract.

Written quotations available on request. All loans subject to status. A life policy or other insurance may be required


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