Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
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Godiva 3.65% two year Bank Base Rate Tracker for buy to let.
Godiva has an attractive looking Tracker product with fixed arrangement fees instead of a percentage of the loan amount, making it especially competitive for higher value loan amounts up to a maximum of 65% Loan to Value.
Product detail and criteria
Bank Base Rate (currently 0.5%) plus 3.15% until 30.06.14 meaning you will pay a rate of 3.65% variable.
Reversion rate after the initial 2 year period is the Godiva Standard Variable Rate for the remainder of the mortgage, which is currently 4.74%.
Maximum Loan to Value 65%.
Arrangement fee of £999 can be added on top of the maximum 65% LTV and a Booking fee of £250 paid on application.
Incentives included are a Remortgage Transfer Service and one mortgage valuation up to £700.
Early repayment charges are 3% of the balance repaid until 30.06.14.
The amount you can borrow is calculated by the monthly rental income having to cover the interest only mortgage payment by 125%. This gives you the ability to borrow up to 263.01 times the property’s monthly rental income as assessed by the lender’s valuation survey up to 65% LTV.
Maximum loan amount £500,000 over 50% LTV and Minimum loan amount £25,001.
Minimum income £25,000 for sole applicants, or £30,000 for joint.
Must already own UK property (not available to First Time Buyers).
Cost over the 2 years not including incentives on a £160,000 interest only advance = £13,001.93
To see how this is calculated click here for previous article “How to choose a Buy to Let mortgage based purely on cost”
If you would like to add your own requirements and search for the most popular available Buy to Let products please click here
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