Originally posted by BiggieBig
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The lender Mark mentioned at 2.99% is Clydesdale Bank, a contractor friendly lender who will use your contract rate to assess income which negates the need to reference your Limited Company accounts therefore meaning the fact you do not have 2-3 years finalised accounts is not an issue. That particular rate is reserved if you have 40% equity in the property and comes with a £1,999 fee. They also have a fee free option at 3.49% again at 60% loan to value. If you are borrowing slightly more then they have 3.69% without an arrangement fee or 3.49% with a £1,999 fee. Quite often unless you have a large loan size then the arrangement fee free options work out best over the product (2 year fixed rate in this instance) duration.
Clydesdale will also offer you free legal fees and a free valuation (which isn't very common in the BTL mortgage market) for remortgages which could be a further saving.
Hope that helps?
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