5.49% Fixed to 02/10/2013

2.99% Tracker

Notes:  We have not verified this information with the lender. Ask your broker to confirm any aspects that are important to you. The main features of this mortgage will be confirmed in the Key features Illustration. Please ask your broker for a Key features Illustration

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5.49% Fixed to 02/10/2013

2.99% Tracker

Up to £1,000,000 60% LTV (Rmg 60%)

Mortgage is Portable

You can keep this mortgage if you move to another property provided that you still meet the Woolwich lending criteria at that time. The mortgage terms and conditions will apply. For full details of the conditions please see the product literature.

A minimum of 3 properties are required for the initial transaction and must be submitted all the same time.

Subsequent applications can be submitted where the applicant(s) currently hold a minimum of 3 BTL properties with Woolwich.

Available to private individuals (including expatriates and non UK Residents) and existing Woolwich Special Purpose Vehicle (SPV) Limited Company or Limited Liability Partnership (LLP) customers, for purchases and/or remortgages or residential investment properties. Please note that borrower types cannot be mixed on individual mortgages.

Rental interest cover of 125% required calculated on the pay rate of the product selected.

Maximum total Woolwich BTL exposure is £5 million.

Remortgage: The Applicant must normally have owned the property for a minimum of 1 year before a remortgage will be considered.

New Build: Classified as any property where the first registration of the property was 2 or less years.

Limited Company - Please refer to lender.

A capital reduction of 10% per annum can be made without incurring an early repayment charge.

Following receipt of an overpayment or a lump sum reduction, The Woolwich will immediately reduce the mortgage balance on which the interest is charged. This means that you will receive benefit straight away.

Buy to Let : Accepted

Capital Rest Period : Monthly

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : 1.25% of loan payable on completion

Booking : None

6 Months interest until 02/10/2013, 10% capital repayments allowed per year without penalty

None

Basic:

upto £75,000 - £220

upto £100,000 - £230

upto £150,000 - £270

upto £200,000 - £300

upto £250,000 - £340

upto £300,000 - £380

upto £350,000 - £400

upto £400,000 - £435

upto £450,000 - £450

upto £500,000 - £495

upto £600,000 - £555

upto £700,000 - £615

upto £800,000 - £650

upto £900,000 - £800

upto £1,000,000 - £900

Arrangement fee can be paid upfront or deducted from the advance.

The administration fee payable on a Further Advance is £150. This includes the valuation fee if re-valuation of your property is required. A Product Application Fee will be payable.

Lender Conveyancing Fee - £126.00 Payable on completion. A non-refundable legal fee to your conveyancer before the loan starts. The figure quoted here is an estimate, the total fee for the conveyancing may be higher.

Land Registry - £0.00 Payable on completion. A non-refundable Fee that must be paid to your Conveyancer before the loan starts. The figure quoted here is an estimate, this may be higher

Final Repayment Charge - £275.00 Payable on redemption.

Freehold Flat Refer

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Yes

Studio Flat No

Flying Freehold Refer

Thatched Yes

Timber Framed Refer

Concrete Refer

Agricultural Tie No

Flat Over 4 Storeys Refer

Listed Building Refer

Not Accepted

New Build acceptable.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements 1 months

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References No

Buildings Conditional

Min Loan £35,000/Rmg £35,000

Max Loan £1,000,000/Rmg £1,000,000

Max Portfolio of BTL Loans £5,000,000

Min Age 21 years

Max Age none

Min Term 5 years

Max Term 25 years

Foreign Citizens Accepted

Ex-Patriates Accepted

Rental Income must be 125% of the monthly mortgage payments

Min months in current position 6

Min months in continuous service 18

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit Refer

The principal applicant must earn and be able to evidence a gross annual income of £20k (from an allowable source) increasing to £50k where a client's aggregate Woolwich BTL borrowing is in excess of £2m. Please note that rental income will not be taken into consideration i.e. applicant must have other employment/income.

Rental cover of 125% calculated on the initial pay rate of the product selected. Rental cover will be assessed initially on the anticipated rental income as detailed by the applicant, however the actual underwriting of the case will be based on the valuer's assessment of rental income.

Rental Income must be 125% of the monthly mortgage payments

Minimum Income £20000

Hire Purchase NOT Taken into account

Personal Loans NOT Taken into account

Overdraft NOT Taken into account

Credit/Store Cards NOT Taken into account

Child Maintenance NOT Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 100% to income before multiply

Other Income - Irregular No

Investment Income Add 100% to income before multiply

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

Capital Raising 60%

Home Improvements 60%

Debt Consolidation 60%

School Fees 60%

Holidays/Cars 60%

Buy Other Property 60%

Business Purposes Not accepted

Divorce Settlement 60%

Unencumbered 60%

A remortgage may be requested either for the same amount as the customers existing BTL mortgage or for an increased amount including an element of capital raising.

The Applicant must normally have owned the property for a minimum of 1 year before a remortgage will be considered. If the applicant hasn't owned the property for 12 months please contact the lender to discuss.

CCJs : Acceptable, max number 1, max amount £ 250, must be satisfied for at least 36 months

Defaults : Acceptable, max number 3, max amount £ 150

min months satisfied 36

Arrears : Refer to lender

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Not Acceptable

Defaults - 3 outstanding defaults in last 3 years totalling a maximum of £150.

Arrears - Any late payments / arrears that are no more than 1 month behind at any time in the last 12 months OR up to 3 months late payments / arrears in the last 3 years.