4% tracker

4% Tracker (base + 3.5%)

Up to £1,000,000 65% LTV (Rmg 65%)

Mortgage is Portable

This scheme can be transferred to another property.

- Mortgage is an EXCLUSIVE product

Rental calculation: 100% cover using interest rate of 8.5% on capital and interest basis. Max term 25 years

FH means Freehold and Leaseholds where the term has 90 years to run.

LH means Leaseholds where the remaining term has a

Limited Company acceptable.

Linked Current Account -

Prior to the drawdown of the mortgage you must open a linked current account with the Bank for purpose of receiving your monthly repayment. Any unauthorised overdraft on the account will be subject to an interest rate of 10% per annum above the Bank's base rate (currently 0.5% per annum)

You can make overpayments. Early repayment charges (as detailed in Section 10) are payable if you fully repay the loan within 12 months of the drawdown date.

If you overpay or make a lump sum repayment, the amount you owe and the amount of interest you pay is recalculated and reduced immediately.

Buy to Let : Accepted, Max properties 10

Let to Buy : Accepted

Capital Rest Period : Daily

Repayment Yes

Endowment No

PEP No

Pension No

Interest only (no RV) No

With Profits No

Unit Linked No

ISA No

Split Repayment No

Arrangement : 1% of loan Upfront

Booking : None

1% of original loan to be paid within first year

None

Basic:

upto £100,000 - £265

upto £150,000 - £300

upto £200,000 - £340

upto £300,000 - £415

upto £400,000 - £495

upto £500,000 - £550

upto £600,000 - £600

Homebuyers:

upto £100,000 - £450

upto £150,000 - £475

upto £200,000 - £525

upto £300,000 - £650

upto £400,000 - £775

upto £500,000 - £950

upto £600,000 - £1100

Min Valuation £50000

Bank of China may increase the offered rate based on the overall credit risk as well as the client’s credit history, please contact the lender before submitting an application

Please note that for loans of £500K or more, the Bank will require a separate solicitor. Costs to be borne by the borrower(s). Please contact the packager for advice on what the conveyancing costs will be.

Funds Transfer Fee - £35.00 Payable on completion. Payable on acceptance of offer

Mortgage Discharge Fee - £75.00 Payable on redemption.

Lender Conveyancing Fee - £150.00 Payable on completion. A non refundable fee to your conveyancer for work carried out on behalf of Bank of China (UK) payable before the mortgage completes. The figure is an estimate and does not cover charges for work done on your behalf or fees paid to others such as search fees. Please note that for loans of £500K or more, the Bank will require a separate solicitor. Costs to be borne by the borrower(s). Please contact the packager for advice on what the conveyancing costs will be.

Freehold Flat Yes

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Yes

Maisonette Yes

Studio Flat No

Flying Freehold Yes

Thatched No

Timber Framed No

Concrete No

Agricultural Tie No

Flat Over 4 Storeys Yes

Listed Building No

Not Accepted

New Build acceptable. Will lend in conurbation's in Southeast, Midlands and North West England, Scotland restricted to Edinburgh Glasgow and surrounding areas. AREAS.

Accepted Locations : England, Scotland

Bank Statements 3 months

At Least 3 Months Pay Slips Yes

P60 Yes

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 none

Min Age 21 years

Max Age 65 years

Min Term 1 years

Max Term 25 years

Foreign Citizens Accepted

Ex-Patriates Not Accepted

Based on Income > 0

Refer to rental income calculations

Min months in current position 12

Min months in continuous service 12

Min no. of years accounts 3

Average years taken to calculate income 3

Will consider declining profit No

100% coverage required on a repayment basis assuming base rates are at 5% + margin / loading.

Minimum Income £18000

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education 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 Add 50% to income before multiply

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 No

Non Contributory Pension No

Car Allowance No

Capital Raising Not accepted

Home Improvements Not accepted

Debt Consolidation Not accepted

School Fees Not accepted

Holidays/Cars Not accepted

Buy Other Property 65%

Business Purposes 65%

Divorce Settlement Not accepted

Unencumbered Not accepted

CCJs : Not Acceptable

Defaults : Not Acceptable

Arrears : Not Acceptable

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Not Acceptable

An application may be referred if either applicant has exceeded 3 months

arrears in the last 3 years.

Credit reference must cover all addresses for all parties for the last three years.

Normally the applicant should have no CCJs.