YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
I’d like to finance a Buy to Let Property
Whether you are an existing landlord looking to remortgage your Buy to Let property or keen to purchase a new Buy to Let, it’s worth having a conversation with one of our qualified mortgage advisors.
We permit capital raising on a Buy to Let remortgage – meaning you can increase your borrowings to improve the property or even use the funds to purchase another investment property. And, if you or a family member have lived in the property at some point, meaning that it would be treated as a Consumer Buy to Let – we can still help.
We are also pleased to assist first-time landlords and first-time buyer landlords, as we understand that our borrower’s circumstances differ and that not every landlord owns their own residential property.
|Products||Prod Code||More Details||Distribution||Initial Rate||Initial Period||Reverts to||App Fee||Product Fee||Free Val?||Fee Assisted Legals?||Max LTV||Min Loan Amount||Max Loan Amount||ERC||Features|
|Buy to Let (Purchase)||BLP8||View Details||Broker & Direct||3.49%||3 Years||SVR||£249||£800||No||No||70%||£30,000||£275,000||1.26% During Disc Period||
|Buy to Let – Large Loan (Purchase)||P006||View Details||Broker & Direct||3.49%||3 Years||SVR||£749||£800||No||No||70%||£275,001||£500,000||1.26% During Disc Period||
|Buy to Let (Remortgage)||R254||View Details||Broker & Direct||3.49%||3 Years||SVR||£249||£800||Yes||Yes||70%||£30,000||£275,000||1.26% During Disc Period||
|Buy to Let – Large Loan (Remortgage)||R255||View Details||Broker & Direct||3.49%||3 Years||SVR||£749||£800||Yes||Yes||70%||275,001||£500,000||1.26% During Disc Period||
LTV - Loan To Value
SVR - Standard Variable Rate (currently 4.75%)
Fee Assisted Legals - where the product selected includes fee assisted legals, the applicants must use the Society's nominated solicitors.
For loans in excess of 80% LTV, a higher lending charge will be payable. From time to time, the Society may meet this charge for you. Full details will be included within your ESIS Illustration. Where the fee is paid by Penrith Building Society, this will be up to a maximum of £1,500. Where the Higher Lending Charge is more than £1,500, you will be responsible for meeting the sum in excess of £1,500.
Self Build/Rennovation mortgage - 75% on plot / 75% max LTV available throughout the build, payable in arrears. Borrowers are expected to contribute their own funds in advance of mortgage draw down throughout the construction.
On a product by product basis, the Society applies limits to the maximum sum it is prepared to advance. These limits vary, dependent upon the product selected. Please refer to individual product information for further guidance.