Second Home Mortgages

We’re proud to have a common sense approach to lending – with each case being manually underwritten. This means that throughout the process, we’re able to offer flexibility to support you and your clients with direct access to an underwriter.


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Second Homes - 2 Year Discount 85% LTV

Initial Interest Rate

6.29%

Maximum Loan To Value (LTV)

85%

Overall Cost for Comparison

8.30%

Product Code

IP221

The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 6.29% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make an initial payment of £1,839.22, 23 monthly payments of £1,523.00, 48 payments of £1,688.30 and 228 monthly payments of £1,846.90.

The total amount payable would be £540,323.82 made up of the loan amount plus interest of £308,999.82 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and a Mortgage Exit Administration Fee (£75.00).

The overall cost for comparison is 8.30% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.