The reduction means that landlords will benefit from the lowest BTLPP and BRO rental rates in the Bank’s history.
Buy to Let Purchase Plan (BTLPP)
• 35% contribution (65% finance to value): discounted variable rental rate of 3.49%; fixed rental rate of 3.69%^ until 31 December 2017
• 25% contribution (75% finance to value): discounted variable rental rate of 3.89%; fixed rental rate of 3.99%^ until 31 December 2017
Buy to Let Rent Only Purchase Plan (BRO)
• 35% contribution (65% finance to value): discounted variable rental rate of 3.49%; fixed rental rate of 3.69%^ until 31 December 2017
Other product features include:
• No early settlement penalty for clearing the finance in full early, even during a fixed rental rate period (a small administration fee will apply)
• A product fee of 1% (a minimum fee of £995 applies)
• Minimum property finance of £30,000, maximum finance of £500,000
• Minimum property value of £90,000
