Freestyle® Buy to Let
Why choose this mortgage?
Whether you're an existing landlord or you're thinking of buying your first property to let - our products offer you competitive rates and the flexibility to maximise your returns. Apply online now, or try our How Much Can I Borrow calculator.
Whether you're an existing landlord or you're thinking of buying your first property to let - our products offer you competitive rates and the flexibility to maximise your returns. Apply online now, or try our How Much Can I Borrow calculator.
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Special Offer |
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This feature is included in your mortgage |
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This feature can be added as an optional upgrade |
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This is an additional product to your mortgage |
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Benefits | The facts |
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No standard valuation fee and no standard legal fee with our Freestyle remortgage package.
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Only available for remortgages. Legal fees will increase if you require your own legal advice.
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Make regular or lump sum overpayments to reduce your term or monthly payments.
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Make unlimited overpayments on variable rate mortgages and up to 10% a year for fixed rates.
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Need to borrow more? We can take your income and outstanding residential mortgage into account.
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The increase in loan boost is capped at £50,000 and is per applicant not per property.
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Helping you build a Buy to Let portfolio. Half price arrangement/booking fees when you take out more than one Buy to Let Mortgage.
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For a maximum of 9 additional mortgages, taken out by the same applicant within the 12 month period following Approval In Principle (AIP) stage of first application.
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Reduce your initial costs by adding your fees to your loan.
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Interest will be charged on your fee account at the Freestyle Buy to Let standard variable rate.
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Take a break from your mortgage twice a year.
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Taking a payment holiday will increase your monthly payments, the interest payable and the remaining balance secured on your property.
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Cover unexpected expenses by borrowing back overpayments made. Subject to lending criteria.
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Borrowing back overpayments will increase your monthly payments, the interest payable and the remaining balance secured on your property.
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Take advantage of a range of preferential rate products.
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Includes our Freestyle Child Saver Account and our Select Freestyle ISA.
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The lower your loan to value tier, the better your rate.
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Your loan to value is the amount you want to borrow against the value of your property (available up to 75%).
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Borrow between £40,000 and £500,000
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Maximum loan for single property is £500,000. All borrowing is subject to lending terms.
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Interest is calculated daily so as your mortgage balance falls, the amount of interest charged falls immediately.
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This also means if you make an overpayment, you can see the benefits immediately.
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Income self-verification
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If your loan to value is less than 75% you might not be required to verify your income.
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Guarantor applications
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Your parent or sibling could help get you onto the buy to let market by acting as a guarantor for a mortgage with a max of 65% loan to value.
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Fast track service for existing customers
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For our existing Freestyle customers, we offer a streamlined process for requesting information and documentation.
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General points
- Rental income must cover at least 110% of your monthly interest payment, calculated using the appropriate rate. For Fixed Rate products this is the fixed rate for your appropriate loan to value and for Discounted products this is the variable rate applicable after the end of the discount rate period.
- Applicants should be aged between 25 and 64 (subject to income). We also accept applications from joint applicants, the employed and the self-employed. Professional landlords and guarantor applications will be considered (subject to lending criteria).
- Fixed rate buy to let mortgages are fully portable and can move with you if you change property.
- Discounted rate buy to let mortgages are not portable. Customers who change property can either take out another discounted rate buy to let mortgage or switch to a fixed rate buy to let mortgage, as long as you complete your new Freestyle Mortgage within 90 days of redeeming your original one.
