3.49% 3 year fixed rate Limited Company - XF0418

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3.49% 31/01/2025 5.14% 65% £175* £1,499~ Yes Yes Yes
· Purpose - Buy to Let Limited Company purchase, remortgage, product switch and further advance
· LTV - Maximum 65%
· *Application Fee - £175 + Valuation Fee for purchase and remortgage.(£125 for further advance, £0 for switch)
· Valuation Fees (Purchase) - Full standard valuation fee scale applies.
· Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
· Valuation Fees (Further advance and Product Switch) - £0
· Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies. 
· ~Product Fee - £1,499 for loans up to £500,000. For loans above £500,000 0.4% of the loan amount.(£0 for further advance and switch)
· Early Repayment Charges - 3% until 31/01/2023, 2% until 31/01/2024, 1% until 31/01/2025
· Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
· Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches
· Cost for comparison - 5.0% APRC
· Additional criteria - The mortgage must complete by 01/02/2022
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Minimum Documents You'll Need From Your Client

All applicants

  • ID documents if the electronic check we carry out on the applicant fails
  • Applicants are required to have an existing UK mortgage. We carry out an electronic credit check on all applicants which may show the performance of these. If this fails to show their existing mortgage(s), 12 months proof of conduct is required. To speed up our underwriting, you can provide these on submission

Remortgage applicants

  • A copy of the existing / proposed tenancy agreement
  • Evidence of rent being paid in and mortgage being paid out (bank statements may already cover this)

Purchase applicants

  • Evidence of deposit in a UK account held by the applicant(s)
  • For gifted deposits, we require a signed gifted letter from the giftor plus evidence of funds in a UK account

Applicants with four or more mortgaged Buy to Let properties

Fees for this product

Purchase and remortgage fees
· *Application Fee - £175 + Valuation Fee
· Valuation Fees (Purchase) - Based on the greater of the purchase price or value of the property. Free for properties up to £500,000.
· Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
· Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies. 
· ~Product Fee - £1,499 for loans up to £500,000. For loans above £500,000 0.4% of loan amount
 
Procuration fees for purchase and remortgage applications (gross fee paid)
· Directly authorised brokers submitting business to us directly - 0.50%, min £225.00
· Submitting a case via Mortgage Clubs - 0.52%, min £234.00 (Mortgage Clubs will deduct 0.02%)

Further advance fees
· *Application Fee - £125
· Valuation Fee - £0
· ~Product Fee - £0
· Legal Fees - £100 + disbursements

Procuration fees for further advances (gross fee paid)
· Directly authorised brokers submitting business to us directly - 0.25%, min £5.00
· Submitting a case via Mortgage Clubs - 0.27%, min £5.40 (Mortgage Clubs will deduct 0.02%)

Product switch fees
No fees apply to switch to a new product with us on the same terms.

Procuration fees for product switches (gross fee paid)
· Directly authorised brokers submitting business to us directly - 0.20%, no min
· Submitting a case via Mortgage Clubs - 0.22%, no min (Mortgage Clubs will deduct 0.02%)

For further fee information click here.

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Affordability Calculator

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