Intermediary Buy to Let Mortgage Range for New Purchases

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1 Intermediary Buy to Let Mortgage Range for New Purchases This guide gives you the specific rates, features and prices of our current Buy to Let range. checklist emortgage application and signed declaration (inc DD) slips Latest P60 Accounts Bank statements ID & Address Verification New Build s form Portfolio Landlords Latest 1 (full) month Only required if using other income in addition to basic income Latest 2 years accounts or latest 2 SA302s, or Accountant s Certificate Latest 1 (full) month showing salary credit System to electronically validate may be required in some circumstances Required on all New Build properties Additional documentation is required for landlords with four or more d BTL properties. Please refer to our A-Z Lending Criteria or speak to your local IRM for more information. To contact your local Skipton Intermediary Relationship Manager please visit skipton-intermediaries.co.uk or call the Intermediary Support Team FOR INTERMEDIARY USE ONLY

2 A guide to our Buy to Let service LTV Please note, where separate interest rates apply for different Values (LTVs), a change in the or loan required may mean your client is ineligible for the rate they originally applied for. In this instance you will be advised of the change and asked if you still wish to proceed with your client s application. Before submitting a full application you should use our Decision in Principle facility to ensure the case fits our criteria. Direct Debits All our s are conditional on monthly being made in advance by direct debit on the 1st of each month. All interest rates include a direct debit discount of 0.25%. If the direct debit is cancelled for any reason, the direct debit discount will be removed. and s Fees payable at application are non-refundable. Where your client has opted to pay s up front, these must be received before we will issue any offer. Any s payable, with the exception of application and, are fully refundable in the event of non-. Procuration s Skipton will pay a gross procuration of 0.50% on all introduced Buy to Let business. There is a minimum loan of 25,000 and a maximum loan of 500,000. Floor Applicable to Discounted Rate Products A floor applies to all discounted products in this guide. Unless specifically stated otherwise for a particular product, this floor is 0% i.e. no will ever be less than 0%. First time buyers For first time buyers, products are only available on a repayment (capital and interest) basis. We require minimum six months continuous payment and we will also need proof of deposit. Further information Our products can be withdrawn without notice. Mortgage offers are valid for six months (except additional borrowing offers which are valid for one month) and are not transferable to different properties It is our usual practice to send the loan to the conveyancer by CHAPS and a charge of 6 will be debited to your client s account if your client has elected to do this and will incur interest as part of the balance. Otherwise your client must pay this prior to offer where your client elects to pay up-front in order to avoid incurring additional interest. Our BTL Products are provided solely for the use of landlords in the purchase or re of properties which are or will be let to non-family related tenants. SVR was the base rate applying to s taken out before 30 December The BRT revert rate applies to s taken out between 30 December 2009 and 13 November BMVR is the base rate applying to s taken out from 14 November Should your client be on a product linked to, or which changes to SVR or the BRT revert rate, and move to a product which is linked to or changes to BMVR, it is not possible to subsequently move back to SVR or BRT. Where no ERC applies or the ERC period has expired unlimited over can be made. Where there is a 10% overpayment allowance, this is per annum and cannot be rolled over. Valuation s If applicable, these are payable with the application except where stated, and include a non-refundable Valuation Panel Management Fee of 26 for arranging and administering the Society s. This should be shown in your client s Mortgage Illustration. Minimum property /purchase price (whichever is the lowest) is 50,000 ( report and only). If your client changes the property to another during the process, and the original property has already had a free, a will apply to the second property or any further property. Property Value Standard Residential and BTL Valuation Up to 100, , , , , , , , , , , , , , , , , , , , , , , , , , , ,001 1,000, Skipton Intermediaries is a part of Skipton Building Society. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number , for accepting deposits, advising on and arranging s and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire BD23 1DN. Stock Code: _22/11/17

3 Buy to Let Fixed Rate 2 Year Buy to Let Fixed Rate Until the rate is fixed at 1.69 Until the rate is fixed at % APRC 60% 4.6% APRC 0 0 2% 31/12/2018 1% Until the rate is fixed at 1.99 Until the rate is fixed at % APRC 70% 4.7% APRC 0 0 2% 31/12/2018 1% Until the rate is fixed at 2.17 Until the rate is fixed at % APRC 4.8% APRC 0 0 2% 31/12/2018 1% A representative example for a 2 Year Buy to Let Fixed Rate Mortgage New Purchases. The 4.8% APRC is calculated the following: An Interest Only of 55,000 payable over 20 years and 9 months, initially on a rate fixed at 2.87% and then our BMVR variable rate currently % for the remaining term would require 24 monthly of and 225 monthly of The total amount payable would be 109, made up of the loan amount plus interest and CHAPS of 6. The interest rates quoted 3 Year Buy to Let Fixed Rate Until 28/02/2021 the rate is fixed at % APRC 70% % 28/02/2019 2% 28/02/2020 1% 28/02/ /02/2021 Until 28/02/2021 the rate is fixed at 2.92 Until 28/02/2021 the rate is fixed at % APRC % APRC 0 0 3% 28/02/2019 2% 28/02/2020 1% 28/02/ /02/2021 and 500 cashback after A representative example for a 3 Year Buy to Let Fixed Rate Mortgage New Purchases. The 4.7% APRC is calculated the following: An Interest Only of 65,000 payable over 20 years and 3 months, initially on a rate fixed 28/02/2021 at 3.19% and then our BMVR variable rate currently % for the remaining term would require 36 monthly of and 207 monthly of The total amount payable would be 126, made up of the loan amount plus interest and CHAPS of 6. The interest rates quoted

4 Buy to Let Fixed Rate 5 Year Buy to Let Fixed Rate Until the rate is fixed at 2.55 Until the rate is fixed at % APRC 60% 4.3% APRC 0 0 5% 4% 31/12/2020 3% 31/12/2021 2% Until the rate is fixed at 2.95 Until the rate is fixed at % APRC 70% 4.4% APRC 0 0 5% 4% 31/12/2020 3% 31/12/2021 2% Until the rate is fixed at 3.13 Until the rate is fixed at % APRC 4.5% APRC 0 0 5% 4% 31/12/2020 3% 31/12/2021 2% A representative example for a 5 Year Buy to Let Fixed Rate Mortgage New Purchases. The 4.5% APRC is calculated the following: An Interest Only of 55,000 payable over 20 years and 9 months, initially on a rate fixed at 3.39% and then our BMVR variable rate currently % for the remaining term would require 60 monthly of and 189 monthly of The total amount payable would be 107, made up of the loan amount plus interest and CHAPS of 6. The interest rates quoted

5 Buy to Let Base Rate Tracker Variable Rate Mortgages 2 Year Base Rate Tracker Variable Rate Mortgages Rates % any rate change will come into effect 14 days after a BoEBR change. Early Repayment Charge (ERC) Product Floor s For 2 years from currently 0.50%, plus 1.80% giving a current of % APRC 60% None 2.05%. Unlimited For 2 years from currently 0.50%, plus 1.90% giving a current of % APRC None 2.15%. Unlimited A representative example for a 2 Year Buy to Discounted Variable Rate Mortgage for New Purchases. The 4.7% APRC is calculated the following: An Interest Only of 145,000 payable over 21 years and 10 months, for 2 years on a variable rate BoEBR +1.90%, giving a of 2.40% and then our BMVR variable rate currently % for the remaining term would require 24 monthly of and 238 monthly of The total amount payable would be 295, made up of the loan amount plus interest, CHAPS of 6 and of 495. The interest rates quoted include a 0.25% Direct Debit discount. 3 Year Base Rate Tracker Variable Rate Mortgages Rates % Early Repayment Charge (ERC) Product Floor s For 3 years from currently 0.50%, plus 2.05% giving a current of % APRC % for 3 years from date of 2.55%. 10% per annum for 3 years from date of A representative example for a 3 Year Base Rate Tracker Variable Rate Mortgage for New Purchases. The 4.6% APRC is calculated the following: An Interest Only of 160,000 payable over 21 years and 10 months, for 3 years on a variable rate BoEBR +2.05%, giving a of 2.55% and then our BMVR variable rate currently % for the remaining term would require 36 monthly of and 226 monthly of The total amount payable would be 321, made up of the loan amount plus interest and CHAPS of 6. The interest rates quoted include a 0.25% Direct Debit discount.