Notices

Our Online Saver (12), pays 4.15% Gross AER on balances of £100+. Apply online today.

5.75% BTL Tracker Rate for Term HNW Interest Roll-Up (2.00% above the BOE Bank Rate) (XTD004)

The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Initial interest rate	Current follow on rate	Overall cost for comparison	Repayment or Interest-Only?	Max % Loan to Value (LTV)	Product fees	Additional benefits
5.75% BTL Tracker Rate for Term HNW Interest Roll-Up (2.00% above the BOE Bank Rate) (XTD004)
5.75%	8.29%	6.1%APRC	Interest-Only	65%	1.00%~

Key things to bear in mind

Purpose - Purchase and Remortgage
Difference from Bank Rate - 2.00% above the Bank of England Bank Rate, which is currently 3.75%, for the duration of the mortgage term
Minimum Rate - 4.00%
Loan to Value - Maximum 65% projected at end of the mortgage term
Application fee - £175 + Valuation Fee
Valuation Fees - The standard valuation fee scale applies
^~Product Fee - 1% of the loan amount
Early Repayment Charges - 2% in the first year only
Maximum loan - Our Interest Roll-Up solution is available up to a maximum of £12,500,000. For loans of £4,500,000 or more, specific considerations in relation to the risk profile may be necessary and may require an amendment to the product pricing to account for this. We will consider this in our response to the DIP request
Minimum Loan - £1,000,000
Cost for comparison - 6.1% APRC
Additional criteria - Clients must either have an annual net income of no less than £300,000, or have net assets of no less than £3,000,000. For joint applications, only one applicant needs to met this High Net Worth (HNW) requirement. HNW status must be evidenced and verified as part of the underwriting process. Applications not available online via our Mortgage Hub, and must be submitted by application form.

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More downloads & what you'll need to apply

Identification

We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.

Bank statements

Buy to Let applicants are normally 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 this on submission.

Proof of income

A copy of the existing / proposed tenancy agreement.

Other items

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 this on submission.

Tenancy agreement

For Remortgages, a copy of the existing / proposed tenancy agreement.

Background BTLs

Evidence of rent being paid in and mortgage being paid out (bank statements may already cover this).

Evidence of deposit for purchases

Evidence of deposit in a UK account held by the applicant(s)
For gifted deposits, we require a signed gift letter from the giftor plus evidence of funds in a UK account and the giftors details (names, date of births, relationship to applicants).

Offset accounts

Offset Saver application form.

Expat applications

Applicants are required to provide a UK contact where the Society is able to serve notice regarding the mortgage. This can be a UK Solicitor or close family member in the UK.

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. Download our assets and liabilities form and the business plan checklist.