Your interest rate is fixed at the rate shown until 1st March 2024, followed by the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24%, until the end of the mortgage.
| Loan To Value | Initial interest rate for 5 years | Overall cost for comparison | Discount from CVBR | Follow on rate | Fee |
|---|---|---|---|---|---|
| 2.25% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this fixed rate product until 1st March 2024 at 2.99% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 60 monthly payments of £581.80 and 180 monthly payments of £677.31. The total amount payable would be £157,949 made up of the loan amount plus interest (£51,824), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.4% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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| 1.85% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this fixed rate product until 1st March 2024 at 3.39% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 60 monthly payments of £603.04 and 180 monthly payments of £682.85. The total amount payable would be £160,220 made up of the loan amount plus interest (£54,095), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.6% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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| 1.45% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this fixed rate product until 1st March 2024 at 3.79% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 60 monthly payments of £624.72 and 180 monthly payments of £688.28. The total amount payable would be £162,499 made up of the loan amount plus interest (£56,374), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.8% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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Your interest rate tracks the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24%, less the discount shown for the first 3 years, followed by the CVBR until the end of the mortgage.
| Loan To Value | Initial interest rate for 3 years | Overall cost for comparison | Discount from CVBR | Follow on rate | Fee |
|---|---|---|---|---|---|
| 2.04% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this variable rate product for 3 years at 3.20% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 36 monthly payments of £592.90 and 204 monthly payments of £691.07. The total amount payable would be £163,448 made up of the loan amount plus interest (£57,323), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.8% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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| 1.74% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this variable rate product for 3 years at 3.50% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 36 monthly payments of £608.96 and 204 monthly payments of £693.54. The total amount payable would be £164,530 made up of the loan amount plus interest (£58,405), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.9% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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| 1.74% | 5.24% | £1,000 | |||
Representative Example:
A mortgage of £105,000 payable over 20 years initially on this variable rate product for 3 years at 3.50% and then on the Cumberland Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 36 monthly payments of £608.96 and 204 monthly payments of £693.54. The total amount payable would be £164,530 made up of the loan amount plus interest (£58,405), arrangement fee (£1,000) and other lending fees (£125). The overall cost for comparison is 4.9% APRC representative. What is a Representative Example?
Representative Examples include the costs associated with a typical mortgage from the Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Key Facts Illustration, please contact us directly. |
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| Lending area | We lend throughout mainland UK (up to 75% LTV) and the isles of Anglesey, Arran, Mull, Skye, Harris and Wight |
| Maximum LTV | We can lend up to 75% of the property value |
| Loan size | The minimum loan size is £100,000 The minimum property value must be £150,000 Maximum loan size £500,000 for any single property* |
| Term | Maximum mortgage term is 25 years |
| Property | Leasehold properties should have a minimum of 85 years left on the lease at the start of the mortgage and 50 years on maturity Our product rates for up to 60% and 70% LTV are available for both new and established holiday let properties Our product rate for up to 75% LTV is only available for established holiday let properties If your property will be a new holiday let, loans will be individually priced Single unit properties only Properties which are temporary or moveable are not eligible |
| Rental coverage | Annual net rental income should be a minimum of 125% of the annual mortgage interest at 6.25% or 3% above the mortgage rate you are paying, whichever is higher Lower levels of income will be considered where borrowers have additional sources of income |
| Applicants | Borrowers must be EU Nationals, residents in the UK or UK ex-pats Limited Companies incorporated outside the UK are not eligible Minimum background income £30,000 Borrowing in personal names only |
*If you're a Limited Company, Trust or British Citizen living abroad, have properties with occupancy restriction, have four or more mortgaged properties or require a loan of more than £500,000, please contact us for a bespoke holiday let mortgage.
| Lending area | We lend throughout mainland UK (up to 75% LTV) and the isles of Anglesey, Arran, Mull, Skye, Harris and Wight |
| Maximum LTV | We can lend up to 75% of the property value |
| Loan size | The minimum loan size is £75,000 The minimum property value must be £150,000 Maximum loan size £500,000 for any single property* |
| Term | Maximum mortgage term is 25 years |
| Property | Leasehold properties should have a minimum of 85 years left on the lease at the start of the mortgage and 50 years on maturity Our product rates for up to 60% and 70% LTV are available for both new and established holiday let properties Our product rate for up to 75% LTV is only available for established holiday let properties If your property will be a new holiday let, loans will be individually priced Properties which are temporary or moveable are not eligible |
| Rental coverage | Annual net rental income should be a minimum of 125% of the annual mortgage interest at 6.25% or 3% above the mortgage rate you are paying, whichever is higher Lower levels of income will be considered where borrowers have additional sources of income |
| Applicants | Borrowers must be EU Nationals, residents in the UK or UK ex-pats Limited Companies incorporated outside the UK are not eligible |
*If you're a Limited Company, Trust or British Citizen living abroad, have properties with occupancy restriction, have four or more mortgaged properties or require a loan of more than £500,000, please contact us for a bespoke holiday let mortgage.