Buy to Let Basic Variable Rate Mortgage

-Arrangement fee (non-refundable) – must be paid at time of submitting mortgage application: £745
-Property assessment fee (non-refundable after property assessment carried out for the Society) payable: see scale below
-No completion fee
-Sealing fee/mortgage exit fee/administration fee on redemption of mortgage: currently £150
-No early repayment charge

-Available on properties in England and Wales, for letting on an Assured Shorthold Tenancy
-Rental income of around 135% of the mortgage payment required
-Maximum number of rental properties is four per household with Hinckley & Rugby Building Society
-Minimum loan £50,000
-Minimum term 5 years
-Interest calculated on a daily basis
-No tied insurances
-Minimum age for applicants 23
-Tariff of charges during the life of any mortgage available on request
-Capital repayment vehicle must be in place for interest only mortgages
-For remortgages, the property must have been owned by the applicants for a minimum of 12 months