Lender Three
Repayment basis only
Maximum Loan To Value: 75 % on residential property for loans over 100 000 euros; 70 % still applies for loans up-to 100 000 euros; 60 % on land
Proof of income: required in all cases
Interest rate: typically 5.95 %
Term of repayment: 5 - 25 years
Minimum loan amount: 40 000 euros, no maximum. 75 000 euro loans released if the applicants are three or four
Interest only option: for the first year of the mortgage. You should pay only the interest rate which is approximately 6.20 % for this period
Currency: EUR
Rental income: the Lender will take into consideration 20 % from your rental income when assessing your affordability
Insurance: building insurance in bank’s favour
Staged payment: not available. The Lender will accept as collateral only fully completed property which has an issued Permit of Use (Act Form 16)
Monthly payments: you should pay your mortgage by equally monthly payments, including interest and capital
Borrowers: all UK and Irish citizens may apply for the mortgage as well as ex-pats that are living or working overseas. The applicants must be between 21 and 65 years old during the maturity of the loan and also they must have a UK bank account/credit history. The maximum number of the applicants for one application is four (the Lender requires married applicants to jointly apply for the mortgage).
Limited Company Purchase: optional, these should be non trading, formed solely for the purpose of this transaction
Bank account: you should open a bank account with the Lender
Early Repayment Fee: there is an early repayment fee if you decide to prepay your mortgage within two years from the beginning of the mortgage loan, which amounts to 3 % of the outstanding amount in year 1 and 2 % in year 2.
Valuation fee: 95 euros
The main bank fees, which are due in the mortgage procedure, are:
Price stated/entered in the Notary Deed: it should be at least the loan amount, granted by the Lender.
Maximum Loan To Value: 75 % on residential property for loans over 100 000 euros; 70 % still applies for loans up-to 100 000 euros; 60 % on land
Proof of income: required in all cases
Interest rate: typically 5.95 %
Term of repayment: 5 - 25 years
Minimum loan amount: 40 000 euros, no maximum. 75 000 euro loans released if the applicants are three or four
Interest only option: for the first year of the mortgage. You should pay only the interest rate which is approximately 6.20 % for this period
Currency: EUR
Rental income: the Lender will take into consideration 20 % from your rental income when assessing your affordability
Insurance: building insurance in bank’s favour
Staged payment: not available. The Lender will accept as collateral only fully completed property which has an issued Permit of Use (Act Form 16)
Monthly payments: you should pay your mortgage by equally monthly payments, including interest and capital
Borrowers: all UK and Irish citizens may apply for the mortgage as well as ex-pats that are living or working overseas. The applicants must be between 21 and 65 years old during the maturity of the loan and also they must have a UK bank account/credit history. The maximum number of the applicants for one application is four (the Lender requires married applicants to jointly apply for the mortgage).
Limited Company Purchase: optional, these should be non trading, formed solely for the purpose of this transaction
Bank account: you should open a bank account with the Lender
Early Repayment Fee: there is an early repayment fee if you decide to prepay your mortgage within two years from the beginning of the mortgage loan, which amounts to 3 % of the outstanding amount in year 1 and 2 % in year 2.
Valuation fee: 95 euros
The main bank fees, which are due in the mortgage procedure, are:
Application fee: 75 pounds for 1 or 2 applicants, 150 pounds for 3 or 4 applicants
Arrangement fee: 1 %, payable once at the time of releasing the loan (minimum 400 euros), 1.5 % for company loans
Price stated/entered in the Notary Deed: it should be at least the loan amount, granted by the Lender.
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