6.49% Offset (2.45% discounted rate from follow on rate) for 2 years (XO0076) - XO0076 (EB)

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Initial Rate	Initial Rate Duration	Follow On Rate	Max. LTV	Application Fee	Product Fee	Repayment	Interest Only	Limited Company
6.49%	2 years	8.94%	70%	£125*	£0~	Yes	Yes	No

Purpose - Offset applications for Product Switch and Further Advance
Options Available - Payment reduction or Balance reduction. Balance reduction only available for repayment mortgages.
Discount - 2.45% applied to our Residential Investment Managed Mortgage Rate for 2 years
Minimum Rate - 4.24%
Loan to Value - 70%
*Application Fee - £125 for Further Advance. £0 for Product Switches
Legal Fees - £100 minimum for Further Advance applications
Valuation Fees - £0
^~Product Fee - £0 for Further Advance and Product Switch
^Cashback - £0
Early Repayment Charges - 2% in the first year, 1% in the second year
Maximum Loan - No maximum
Minimum Loan - £2,000 for further advance. No minimum for product switches
Cost for comparison - 8.8% APRC

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

We will treat these applications as a portfolio landlord and we require details of their full portfolio and a business plan. For the assets and liabilities form and the business plan checklist, please click here.

Fees for this product

Further Advance fees

Product Switch Fees

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

Procuration Fees (gross fee paid)

For all types of procuration fees paid and for further fee information, click here.

Criteria checker

Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.

Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator