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Derbyshire BS 7.23% Fixed Rate Buy to Let Mortgage

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Derbyshire BS Fixed Rate Buy to Let Mortgage details

Lender:	Derbyshire BS
Rate:	7.23% until 31/01/2012
APR:	7.6%
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% until 31/01/2010 then 3% and 2% until 31/01/2012 of the amount repaid
Life Insurance Required:

Additional Features

Notes:

1. Direct with lender only.

2. Maximum 3 properties per applicant (£1.5m in total).

3. Main applicant must be aged 25, been in permanent employment for 12 months or self employed for 3 years.

4. Income or net profit of £25000 or more required.

5. Gross monthly rental must be at least 125% of monthly interest at initial payable rate.

6. Lettings must be on an Assured Shorthold Tenancy.

7. Properties not acceptable; ex local authority flats, flats over commercial premises, 1 bed flats, any multi - occupation property, student lets, DSS lets and flats in blocks over 4 storeys.

8. Lender charges interest on a daily basis.

9. Lender does not require life policies to be deposited with the title deeds or to know how an interest only mortgage is to be repaid at the end of the mortgage repayment period.

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

11. Arrangement fee £1499 (non refundable booking fee £95 is included to be paid upfront).

12. For loans above £500k refer to lender.

13. Buy to let Standard Variable Rate 7.09%.

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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