Limited Company Holiday fixed rate until 29 March 2029 75% LTV

Key Features

Mortgage type 
  • A fixed rate mortgage has an interest rate that stays the same for a set period of time. During the fixed rate period your monthly repayments stay the same. At the end of the fixed rate period the interest rate will change, usually to the lender's standard variable rate (SVR).
Interest rates 
  • 6.49% fixed until 29 March 2029, changing to our Standard variable rate (SVR) for the remainder of the mortgage.
Maximum loan to value 
  • 75 %
  • Separate legal representation is required, both fees to be paid by the borrower.
  • Application Fee: Existing borrower product transfer £0
  • Application Fee: £1,500 (purchase or remortgage)
  • Mortgage Exit Administration Fee (MEAF): £100
  • Valuation fee applies
  • Overpayments allowed
Loan size 
  • £50,000 (min) - £500,000 (max)
  • £40,000 minimum loan for existing borrowers transferring on to this product.
Early repayment charge (ERC) 
  • ERC is 5% to 29 March 2025, 4% to 29 March 2026, 3% to 29 March 2028, 2% to 29 March 2029 of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product).
  • For this product the ERC period is until 29 March 2029.
  • The Early Repayment Charge (ERC) period applies from the date of completion.
  • During the ERC period you are permitted to make overpayments up to 10% of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) per year. If overpayments exceed 10% in a year during the ERC period, you will have to pay the relevant ERC percentage rate on the amount of overpayment exceeding the permitted level.
  • The full ERC is payable on the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) if you repay your mortgage in full during the ERC period. The ERC will also be levied on previously permitted overpayments.
  • Our Holiday Let fixed mortgage is available to you if you are looking to finance a property to let on a holiday basis.
  • Available to limited companies only.
  • The property must be located in England or Wales and in a location that is suitable for holiday letting. The following Central London postcodes are excluded (E, EC, N, NW, SE, SW, W, WC)
  • The mortgage term must be between 5 and 25 years.
  • Applicants must own and occupy their main residence or be in tied accommodation
  • Minimum property value of £150,000
Representative example

A mortgage of £89,650 (including an application fee of £1,500) payable over 20 years initially on a fixed rate for 5 years at 6.49% and then on our standard variable rate, currently 7.00% for the remaining 15 years would require 60 monthly payments of £484.86 and 180 monthly payments of £522.96.

The total amount payable would be £213,174.40 made up of the loan amount plus interest of £123,224.40, a valuation fee of £200 and a MEAF of £100.

The overall cost for comparison is 7.2% APRC representative. Please note this illustration is based on an interest only basis (capital and repayment is also available).

Additional information


    Important information

  • We use rental income to assess affordability, and a minimum income is required. You do need to be employed/self-employed and show that your finances are self-supporting. The rental income from the property must cover 135% of an interest only mortgage payment based on our stressed rate, currently 8.55%. We ask our valuer to assess the potential rental value of the property when carrying out the mortgage valuation. For Holiday Lets we can also take account of the income from letting the property on a holiday basis. Each mortgage application is assessed on an individual basis. The property you are buying or refinancing will be used as security for the loan on a first charge basis.
  • Legal costs

  • Legal work is required when buying or remortgaging a property to let. This legal work is carried out by a solicitor and is payable by you. We can use the same solicitors as you, providing there is a minimum of four Approved Managers/License Holders and they are registered on The Law Society website ( Licensed conveyancers are also acceptable for residential business only. The conveyancer must be registered with the Council of Licensed Conveyancers and be in a firm with at least four Approved Managers/License Holders. If the mortgage is for a Limited Company, separate legal representation is required and all fees are payable by the borrower.
  • Standard mortgage valuation fee

  • A valuation of the property and rental income assessment will be required to assess the security offered for the loan. We offer a choice of either a basic mortgage valuation, which is for us to assess security only, or a Home Buyer's Report that will give you a more comprehensive guide to the condition of the property. It is payable in advance and cannot be refunded once the valuation has taken place. If you would like a full building survey, we will give you the names of some local surveyors who you can contact to give precise instructions and negotiate price.
  • If an existing borrower who is not moving house would like a revaluation carried out to assess which LTV tier they qualify for they will be required to pay a revaluation fee (see our Mortgages explained booklet for details).
  • Maximum loan to value

  • Loan to value (LTV) is the proportion of the value or price of the property (whichever is lower) that you borrow on a mortgage. For example, a £150,000 mortgage on a house valued at £200,000 would mean a LTV of 75%.
  • For existing borrowers transferring onto this product the LTV will be calculated on the current loan outstanding and the indexed valuation held on our records. If the borrower feels the indexed valuation is inaccurate it can be reviewed by contacting our Customer Services department.
  • Application fee

  • The application fee can be added to the mortgage and is refundable if the mortgage does not take place. If you add the application fee to your mortgage, this increases the amount you borrow and will also increase your monthly payments.
  • There is a fee of £120 for further advance loans on your existing Newbury Building Society mortgage.
  • A Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges leaflet and your European Standardised Information Sheet (ESIS) for details.
  • Timescales

  • House purchases must complete within six months of the date of the formal mortgage offer. Remortgages must complete within three months from the date the application is received. Further advances must complete within three months of the date of the further advance offer.
  • Where existing borrowers transferring their mortgage are not in an early repayment charge period, the transfer must take place within four months of the mortgage offer.
  • For new build properties the mortgage offer is valid for up to 6 months. The application must be able to complete in the product time scales. Therefore, the new build property must be completed and available for occupation within six months of the mortgage offer.
  • Portability

  • All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge. If the loan amount on your new mortgage is lower, there may be a charge based on the difference between the old and the new loan amount. A higher lending charge may be applicable for the new mortgage.
  • Other charges

  • Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of charges PDF, which you will be given before your mortgage completes.
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