Buy To Let 2 or 3 Year Loan
|Buy To Let Loans Criteria|
|Fixed Term||2 years||3 years|
|Max LPT1||Up to 85%|
|Max LTV2||Up to 70%|
|Min Property Value||£200,000|
|INTEREST RATE 3|
|Option 1 – Up to 70% LTV||8.99% pa|
|Option 2 – Up to 70% LTV||6.99% pa with an additional 2% pa deferred*|
|Proc Fee||From 1.25%|
|Legal Fees 5||£850|
|ERCs 6||Year 1/Year 2/Year 3 6%/5%/4%|
- Interest charged on a monthly basis.
- First Charges only.
- Tenanted Residential Investment Property – no owner occupied lending.
- Properties in England only.
- Adverse considered case by case.
- Interest can be retained for the full term.
- *2% Interest per annum is deferred and payable upon redemption of the Loan. Deferred Interest is in addition to the interest rate shown.
- Completed and signed Dragonfly Property Finance Application Form.
- Copy Photo ID for each applicant.
- Valuation addressed to BridgeCo Ltd & Fern Trading Ltd. All valuation fees are paid direct to the surveyor or the packaging broker. If valuation not ready we can instruct the offer subject to receipt of an undertaking for our legal fees from the client's solicitor.
- If the loan is to be serviced current – copy bank statements (3 months).
- Please refer to the 'Dragonfly Property Finance General Lending Criteria' and the Agreement in Principle issued for full requirements.
- Loan to Purchase Price for Discounted transactions. The lower of LTV/LTP above will be used.
- LTV – Loan to Value based on 180 day Market Value.
- Interest Rate – Calculated on a monthly basis.
- Deducted from the Loan advance.
- Will typically be charged for purchases up to £500,000. For full legal fee scale, please see general criteria guide.
- ERCs above only apply if the Loan redeems prior to the final month of the term.