About Us
Mortgage Types
Mortgage Search
Market News
Jargon Buster
Tax Advice & Tips
Contact Us
Search Panel
Mortgage Details
< Return to Search
Apply Now >
Mortgage Code:
MCC FINANCE
Scheme Name:
6.99% FIXED FOR 3 YEARS
Product Detail:
85% LTV LENDERS FEE 3% ADDED RENTAL 110% @ PAY RATE
Initial Rate:
6.99%
Maximum Loan
Monthly Rent:
Rental Coverage:
110
%
Interest Rate:
6.99
%
Maximum Loan:
Calculate >
Reverting Rate:
6.00%
APR Rate:
6.26%
Max LTV:
85%
Arrangement Fee:
Arrangement Fee Structure:
Arrangement Fee Percentage:
3.00%
Further Information:
£350 BOOKING FEE PROPERTY MUST BE MINIMUM 2 YEARS OLD - NO NEW BUILD 85% OF PURCHASE PRICE OR 70% OF OPEN MARKET VALUE WHICH EVER IS THE LOWER £850 legal fee NO CREDIT SCORE
Minimum Loan Per Property:
£150000
Maximum Loan Per Property:
£2500000
Withdrawal Notice:
Withdrawal Date:
Income Requirements:
NO MINIMUM INCOME
WHERE CLIENTS HAVE AN EXISTING BTL PORTFOLIO, LENDER REQUIRES 3 MONTHS BANK STATAMENTS AND COPIES OF ALL TENANCY AGREEMENTS, RENTAL RECEIVED ON BANK STATEMENTS MUST TALLY WITH RENTAL AGREEMENTS LESS ANY MANAGEMENT FEES
Age Limits:
MIN 21
MAX 65 AT END OF MORTGAGE TERM
Applicant Status:
SELF CERT AVAILABLE
Interest Rate Structure:
LIBOR
Early Repayment:
4% in months 1-12 2% in months 13-24 0% in months 25-36
Repayment Structure:
INTEREST ONLY OR CAPITAL REPAYMENT
Loan Limits:
MINIMUM LOAN £150000
MAXIMUM LOAN £2500000
Adverse Limits:
NO ADVERSE
Remortgages:
MUST HAVE OWNED PROPERTY FOR MINIMUM OF 6 MONTHS
Acceptable Properties:
PROPERTIES THAT ARE 2+ YEARS OLD
Unacceptable Properties:
NO NON STANDARD CONSTRUCTED PROPERTIES - I.E. CONCRETE
WILL NOT LEND IN SCOTLAND OR NORTHERN IRELAND
NO NEW BUILDS
Acceptable Tenancies:
WILL ONLY ACCEPT NORMAL ASSURED SHORTHOLD TENANCIES
Information Requirements:
COMPLETED APPLICATION FORM
WHERE CLIENTS EXISTING PROPERTY PORTFOLIO COMPRISES OF EMPTY PROPERTIES, 3 MONTHS INTEREST WILL BE DEDUCTED PER PROPERTY FROM THE ADVANCE
Time Scale AIP:
24-36 HOURS
Time Scale To Offer:
48-56 HOURS FROM ALL OUTSTANDING INFORMATION BEING RECEIVED
Free Valuation:
Free Legal:
Free Completion: