Sizzling 1.65% tracker rate for 5-years, free standard valuation

1.65% 5-year tracker

Take advantage of this eye-catching 1.65% 5-year tracker, offering flexibility over property use!

This deal, available on purchase and remortgage, offers not only tracker security for 5-years, but offers low upfront costs with a free standard valuation (up to £999) and free legals on remortgages.

There is no minimum income requirement, although the lender will want to see proof of income from the primary applicant.

There is also an appealing flexibility when it comes to property use and the lender will consider applications on Houses of Multiple Occupancy with up to five bedrooms. Ex Local Authority Houses and holiday lets will also be considered. Call for more details.

This lender will also give consideration on adverse credit; please call for more information.

Please note this product is not available for limited companies.

1.65% 5-year tracker, free valuation

1.65% 5-year tracker, free valuation
Product type Initial rate Max. Loan to Value Product fee *ERC's
5-year tracker 1.65% 60% £1,999 £0

*Early Repayment Charge

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Affordability

The primary applicant must be an existing home owner or occupier.

All income for affordability must be evidenced and be in Pounds sterling.

Rental income will be independently verified and must be at least 140% of the interest payable on a stress rate of; 5.5% for purchases, capital-raising remortgages and Let to Buy remortgages; and on a stress rate of 5.0% for like for like remortgages excluding Let to Buy.

Applicant criteria

Up to 4 applicants are acceptable and the minimum age of applicants is 18 years old, the maximum age at the end of the mortgage term is 80 years old.

Applicants must be in permanent full or part-time employment and must have been in continuous employment for the last 6 months, including probationary period if appropriate.

Self-employed applicants must provide an accountant’s certificate or the last full year of accounts.

Applicants are allowed up to 4 properties with this lender, or 8 overall.

Credit history

Applicants will be considered with a maximum of one County Court Judgement (CCJ) or default in the last 4 years, if this was satisfied within 3 months of issue and did not exceed £500 in value.

The lender will allow up to a maximum of one missed mortgage payment in the last 12 months and no more than 2 months arrears on any credit agreement in the last 24 months.

Residency

You must be a UK tax payer and have resided in the UK for a minimum of the last 2 years.
However, the lender will also consider applications from UK nationals in service abroad with HM Forces or, who are employed abroad by a UK based or internationally known employer.

For non-UK nationals, a valid EU passport must be produced, or for non-EU Nationals the applicant(s) must provide evidence of a permanent right to reside in the UK.

Property type

The lender will consider ex-local authority property, which is readily saleable.
Consideration will be given to ex Local Authority flats in England, Wales, Scotland & Northern Ireland, subject to criteria. Please call for more information.

The lender will also consider property situated above, adjacent or near to commercial premises, subject to meeting criteria.

Holiday ‘lets’ may also be considered, subject to meeting affordability criteria; you may own up to 3 holiday let homes.

Leasehold properties with an unexpired lease of at least 85 years at the start of the mortgage, may also qualify for consideration, subject to criteria.

Property use

In cases where the applicant has existing landlord experience, the Society will consider a House in Multiple Occupation, up to a maximum of 5 bedrooms and a valid HMO licence (if required) and also subject to a specialist valuation report used to inform rental calculation.
Each of the tenants must have an individual Assured Shorthold Tenancy agreement or Licence to Occupy for their own room and the right to use shared parts of the property, or a joint AST agreement over the whole of the property.

Loan size and property value

The minimum property valuation is £50,000.

The maximum loan amount on this product is £500,000.

Enquire online

This information should not be interpreted as financial advice. Mortgage and loan rates are subject to change.

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