A variable rate, currently 4.99%, with a discount of 1.30% for 36 months, giving a current rate payable of 3.69%, followed by the Melton Mowbray Building Society's Standard Variable Rate, currently 4.99%, for the remaining term of the mortgage.
The overall cost for comparison is 4.8% APR

Minimum term 5 years
Payments to be made by direct debit
The maximum loan to value is 75%

Minimum loan £25,000. Maximum aggregate loans £500,000
Minimum property valuation £75,000
Minimum rental cover 130% of mortgage payment
Individuals only, at least 25 years old
Minimum earned income £25,000 pa
Maximum portfolio of 4 properties in total
No flats, no ex-local authority houses
No tenants in receipt of benefits, no multi-occupancy
Tenancy Agreements subject to approval for each amendment ie tenants, rental amount etc, for which a fee is payable

Other lending criteria may apply - details available on request

Application Fee of £399 payable when you apply
Completion Fee of £599 payable at the start of the mortgage. This can be added to the loan as long as the total loan to value does not exceed 75%
Approval and Agreement of Tenancy Fee of £75 payable at the start of the mortgage
A Mortgage Discharge Fee and Deed Release Fee, currently £90 and £50 respectively, payable at the end of the mortgage
Valuation fee - see charges page
An early repayment charge of 3.25% of the balance outstanding during the first 12 months

Make overpayments of 10% of the current balance during the first 12 months without any early repayment charges

A personalised mortgage illustration is available on request.
This product sheet should be read in conjunction with the general terms and conditions.