If you have made overpayments and built up a Prepayment Reserve, you can borrow the money back (subject to lending criteria) at any time at the Freestyle Buy to Let standard variable rate applicable or at our Buy to Let additional borrowing rates available at the time.
Remember, further borrowing will increase your monthly mortgage payments, interest payable and remaining balance secured on your property. An admin fee applies each time you borrow from your Prepayment Reserve.
| Loan
to Value |
Initial
payment rate |
Payment
rate after initial period |
Overall
cost for comparison |
|
|---|---|---|---|---|
| Variable - Freestyle Buy to Let
standard variable rate |
Up to 50% | 5.92% for term of drawdown |
n/a | 6.1% APR |
| Variable - Freestyle Buy to Let standard variable rate |
50.01% - 65% | 6.17% for term of drawdown |
n/a | 6.3% APR |
| Variable - Freestyle Buy to Let
standard variable rate |
65.01% - 85% | 6.42% for term of drawdown |
n/a | 6.6% APR |
| Additional Borrowing
- Buy to Let fixed until 30/03/2012 |
up to 50% | 7.39% until 30/03/2012 then moving to |
5.92% for the remainder of the term |
6.5% APR |
| Additional Borrowing - Buy to Let fixed until 30/03/2012 |
50.01% - 65% | 7.39% until 30/03/2012 then moving to |
6.17% for the remainder of the term |
6.7% APR |
| Additional Borrowing - Buy to Let fixed until 30/03/2012 |
65.01% - 85% | 7.39% until 30/03/2012 then moving to |
6.42% for the remainder of the term |
6.9% APR |
Rates effective as at 31 December 2008.
| Freestyle Buy to Let standard variable rate | No early repayment charges |
| Additional Borrowing - Buy to Let fixed until 30/03/2012 | Year 1 = 5 months' Year 2 = 5 months' Year 3 = 5 months' interest at the fixed rate on the amount redeemed. The charge in year 3 applies until 30/03/2012. |
