Product rates start from 5.84 per cent for five years, with a three-year redemption period, reverting to an underlying rate of bank base rate plus 1.99 per cent. For loans up to 75 per cent loan to value, the rate is based on bank base rate plus 1.09 per cent and bank base rate plus 1.24 per cent for loans up to 85 per cent loan to value.
The rental yield must cover 125 per cent of the monthly mortgage payment and is calculated at the product rate on an interest only basis.
A reducing early repayment charge is made for redemption within the first three years and thereafter, one month’s notice or one month’s interest is charged.
Buy-to-let investors may hold unlimited property portfolios, subject to a maximum lending figure of £1,000,000 with Freedom Finance.
Product details
- Funded by: Freedom Finance
- Product: Buy-to-let BBR tracker for 5 years
Up to 75% LTV: BBR + 1.09%
Up to 85% LTV: BBR + 1.24%
- Underlying rate: BBR + 1.99%
- Max LTV: 85% LTV up to £300,000
75% LTV up to £500,000
- Minimum loan: £25,001
- Maximum loan: £500,000
- Minimum valuation: £50,000
- Early repayment charges: 3% of amount repaid in year 1, 2% in year 2, 3% in year 3, thereafter 1 month’s notice or 1 month’s interest
- Rental Yield: 125% of the monthly mortgage interest payments, calculated at the product rate
- Broker commission: 0.5%
- Arrangement fee: £385
