Buy-to-let Product Guide

Transcription

1 INTEREST RATES AND FEES - JANUARY 0 Buy-to-let Product Guide Product Highlights.99% year fixed 9 fee - %LTV Page.8% year fixed Nil fee - 7%LTV Page.% year fixed Nil fee - 80%LTV Page.9% year fixed 9 fee - 7%LTV Page All products include free valuation, application fee of 0 to apply mtenquiries@paragon-group.co.uk SIMPLY BUY-TO-LET

2 Tracker Rates from.80% PURCHASE AND REMORTGAGE 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. YEAR TRACKER RATES (7% LTV) PN0 PN PN.80% ( +.0%).00% % for years.0%.0% ( +.70%).00% % for years.0%.70% ( +.0%) NIL % for years.0% N/A PN PN7.80% ( +.0%).00% None.0% We do not accept applications for no ERC products where the applicant is.0% ( +.0%) 99 None.0% remortgaging their residential home on a buy-to-let (let-to-buy) basis. Reversion rate - after the initial tracker period, +.7%. YEAR TRACKER RATES (80% LTV) PO0 PO0.% ( +.0%).0% % for years.0%.0% ( +.70%) NIL % for years.0% N/A Reversion rate - after the initial tracker period, +.7%. Please note that the margin above may be varied, subject to 8 days written notice. Maximum loan amount at 80% - 00,000. Interest coverage ratio - Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice

3 Tracker Rates continued REMORTGAGE ONLY - No legal fees 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. No legal fees. Please note that the No Legal Fees facility requires the choice of a legal service provider nominated by Mortgage Trust. The service provides for legal fees and disbursements limited to remortgages where all the land c omprised in the title currently owned by the applicant will be charged to the lender. If this is not the case, or any other legal services are required, Mortgage Trust s nominated legal service provider may charge additional costs for which the applicant will be liable. In all cases, the nature of the additional work and costs will be agreed beforehand between the legal service provider and the applicant. YEAR TRACKER RATES (7% LTV) PN PN PN.9% ( +.%).00% % for years.0%.% ( +.8%).00% % for years.0%.8% ( +.%) NIL % for years.0% N/A Reversion rate - after the initial tracker period, +.7%. Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice

4 Fixed Rates from.0% PURCHASE AND REMORTGAGE 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. YEAR FIXED RATES (% LTV) BM0.99% 9 % to 0/0/7.0% BM0.0%.% % to 0/0/7.0% Rate fixed until 0/0/7 BM0.% NIL % to 0/0/7.0% Reversion rate - after the initial fixed period, revert to Paragon Bank SVR (). Maximum loan amount at % - 00,000. Interest coverage ratio - % at % or product charging rate if greater. Funded by Paragon Bank PLC. YEAR FIXED RATES (7% LTV) PN9.8%.00% % to 0/0/7.0% PN0.% 99 % to 0/0/7.0% PN.% 9 % to 0/0/7.0% Rate fixed until 0/0/7 PN.70% NIL % to 0/0/7.0% Reversion rate - after the initial fixed period, +.7%. Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice

5 Fixed Rates continued PURCHASE AND REMORTGAGE 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. YEAR FIXED RATES (80% LTV) PO0.9%.0% % to 0/0/7.0% PO0.% NIL % to 0/0/7.0% Rate fixed until 0/0/7 Reversion rate - after the initial fixed period, +.7%. Please note that the margin above may be varied, subject to 8 days written notice. Maximum loan amount at 80% - 00,000. Interest coverage ratio - YEAR FIXED RATES (7% LTV) BM0.80%.0% % to 0/0/8.0% BM0.%,9 % to 0/0/8.0% BM0.%,9 % to 0/0/8.0% Rate fixed until 0/0/8 BM0.8% NIL % to 0/0/8.0% Reversion rate - after the initial fixed period, revert to Paragon Bank SVR (). Maximum loan amount at 7% - 00,000. Interest coverage ratio - % at % or product charging rate if greater. Funded by Paragon Bank PLC. Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice

6 Fixed Rates continued PURCHASE AND REMORTGAGE 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. YEAR FIXED RATES (7% LTV) BM00.9%,99 % to 0/0/0.0% Rate fixed until 0/0/0 Reversion rate - after the initial fixed period, revert to Paragon Bank SVR (). Maximum loan amount at 7% - 00,000. Interest coverage ratio - % at % or product charging rate if greater. Funded by Paragon Bank PLC. PN7.9% 9 % to 9/0/0.0% Rate fixed until 9/0/0 Reversion rate - after the initial fixed period, +.7%. Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice

7 Fixed Rates continued REMORTGAGE ONLY - No legal fees 0.0. Single, self-contained properties only, no limited companies. Free valuation, application fee of 0 to apply. No legal fees. Please note that the No Legal Fees facility requires the choice of a legal service provider nominated by Mortgage Trust. The service provides for legal fees and disbursements limited to remortgages where all the land comprised in the title currently owned by the applicant will be charged to the lender. If this is not the case, or any other legal services are required, Mortgage Trust s nominated legal service provider may charge additional costs for which the applicant will be liable. In all cases, the nature of the additional work and costs will be agreed beforehand between the legal service provider and the applicant. YEAR FIXED RATES (7% LTV) PN.0%,99 % to 0/0/7.0% PN.0% 99 % to 0/0/7.0% PN.7% 9 % to 0/0/7.0% Rate fixed until 0/0/7 PN.90% NIL % to 0/0/7.0% Reversion rate - after the initial fixed period, +.7%. YEAR FIXED RATES (7% LTV) PN8.0% NIL % to 0/0/8.0% Rate fixed until 0/0/8 Reversion rate - after the initial fixed period, +.7%. YEAR FIXED RATES (7% LTV) PN8.0% 9 % to 9/0/0.0% Rate fixed until 9/0/0 Reversion rate - after the initial fixed period, +.7%. Subject always to a minimum rate of % Subject always to a minimum rate of.% APR calculated using an illustrative loan of 00,000 subject to 8 days written notice 7

8 General Information INTEREST COVERAGE RATIO The gross rental income from the property is subject to an absolute minimum of % of an interest only loan payment calculated at % or the product charging rate if greater. APPLIES TO ALL PRODUCTS A non refundable application fee of 0 applies. After the fixed term or initial tracker period, if the mortgage is interest only, it may be converted to capital and interest repayment, subject to 8 days written notice. All products are subject to availability of funds and withdrawal at any time. APR calculated using an illustrative loan of 00,000. ADVANCE Up to 80% LTV Up to 70% LTV Min loan Max aggregate loan Min age Min term Max term 00,000,000,000 0,000 A lending limit of,000,000 and no more than properties applies across all Paragon Group mortgage products years years OTHER FEES Application fee Re-inspection fee Product fee A non refundable application fee on all submissions. If a re-inspection of the property becomes necessary at any time after the original valuation, a fee will be charged. This fee can be added to the loan and is excluded from LTV calculation See individual product details Funds transfer fee Property insurance contingency fee Revised documents fee Charges for the telegraphic transfer of funds to the solicitor will normally be added to the loan on completion of the mortgage. Where building insurance is not arranged with Paragon a fee will be charged and is normally added to the loan on completion of the mortgage. This fee is payable where revision of an offer of loan is due to a product change. This fee will be added to the loan on completion of the mortgage if elected

9 General Information VALUATION FEES (Free until further notice) Purchase price / remortgage estimated valuation Total Fee You save You pay (application fee) 7,000 to 00, ,00 to 0, ,00 to 00, ,00 to 00, ,00 to 00, ,00 to 00, ,00 to 00, ,00 to 700, ,00 to 800, ,00 to 900, ,00 to,000, ,000,00 to,00,000, ,00,00 to,000,000,00 0 0,000,00 to,00,000,0 00 0,00,00 plus Refer to lender The above table includes a non refundable application fee of 0. The mortgage valuation report is a Security Assessment carried out for the benefit of the Paragon Group to determine if a property provides acceptable security for mortgage purposes. Where an internal inspection has been carried out and the proposed security is subsequently declined, a valuation report will not be made available although a summary will be given advising why the property is deemed to be unsuitable. MT0 (0/0) MORTGAGE TRUST HOMER ROAD, SOLIHULL, WEST MIDLANDS, B9 QJ tel fax mtenquiries@paragon-group.co.uk web Mortgage Trust and Paragon Mortgages are trading styles of Paragon Mortgages (00) Limited (Registered in England No: 98) and Paragon Bank PLC (Registered in England No: 909). Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Paragon Bank PLC is registered on the Financial Services Register under the Firm Reference No: 0. Registered office: Homer Road, Solihull, West Midlands B9 QJ.