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Coventry BS 6.89% Fixed Rate Buy to Let Mortgage

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Coventry BS Fixed Rate Buy to Let Mortgage details

Lender:	Coventry BS
Rate:	6.89% until 31/12/2010
APR:	5.9%
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.	4% of balance repaid until 31/12/2010
Life Insurance Required:

Additional Features

Notes:

1. Property must be let on an assured shorthold tenancy.

2. Not available to companies or partnerships.

3. Minimum annual income for main earner is £20000.

4. Employed applicants must be in permanent employment and have been so continuously for 12 months.

5. Self employed verified via last 2 years accounts.

6. Flats in block of no more then 5 storeys allowed.

7. Applicant must be aged 25 years or above.

8. Monthly rental must be at least 130% of monthly mortgage interest.

9. No studio flats or converted for multi occupancy properties or students lets.

10. Maximum of 3 rental properties allowed with Coventry BS Group, (maximum 10 with other lenders) maximum loan amount of £1000000 in total with Coventry BS Group.

11. Free remortgage transfer service which includes legal fees if the society’s nominated solicitor is used (alternatively a £200 contribution). Including mainland Scotland.

12. Maximum 3 month payment break per year (by approval) interest continues to accrue.

13. Free Valuation maximum £680.

14. Arrangement fee shown is £250 non refundable booking fee plus £749 arrangement fee.

15. Lender charges interest on a daily basis.

16. Buy to let Standard Variable Rate 5.34%.

17. Capital repayments up to 5% allowed each year without penalty.

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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