Buy-to-Let Mortgage

Consumer Buy-to-Let

Are you in full-time ministry and moving out of your current home to live in church accommodation?

Consumer Buy-to-Let mortgages enable you to rent out a property which you had previously lived in. This allows you to keep the property as a financial benefit whilst you are living elsewhere.

Buy-to-Let

Are you looking to purchase a property to let as a financial investment?

A Buy-to-Let mortgage can be used to buy accommodation that you’re not intending to live in, but will let out to tenants.

Commercial mortgages and Buy-to-Let mortgages are not currently regulated by the Financial Conduct Authority, and therefore do not have the same protections as regulated personal mortgages, including Consumer Buy-to-Let mortgages. Please contact us for more details if required.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Case study

Sally has worked for a church since her early twenties.  She has always been provided with accommodation, but decided that she wanted to invest in property to provide her with some additional income.

As a full-time ministry worker, she was able to apply for a Kingdom Bank Buy-to-Let mortgage, meaning she could purchase a flat near where she lives. She now lets the flat to young professionals from church, providing them with affordable accommodation while receiving some extra income each month.

*Story based on the experiences of real customers. Names and places have been anonymised.

Interest rates

Current interest rate 6.20%

  • Available to borrowers where loan-to-value is less than 75% and affordability is above 150% 
  • Rate fixed for 2 years.
  • Additional arrangement fee of £600.
  • The overall cost for comparison is 7.45% APRC*

*The above APRC is based on a mortgage borrowing amount of £100,000 over 25 years at 6.20% for the first 2 years, increasing to the Bank’s Standard Variable Rate (currently 7.20%) for the remainder of the mortgage.

Current interest rate 6.50%

  • Available to borrowers where loan-to-value is less than 75% and affordability is above 150%.
  • Rate fixed for 5 years.
  • Additional arrangement fee of £600.
  • The overall cost for comparison is 7.33% APRC* across all personal mortgages.

*The above APRC is based on a mortgage borrowing amount of £100,000 over 25 years at 6.50% for the first 5 years, increasing to the Bank’s variable rate (currently 7.20%) for the remainder of the mortgage.

Current interest rate 7.20%

  • Available to borrowers where loan-to-value is less than 80% and affordability is above 150% for owner-occupiers and 110% for Buy-to-Let.
  • This rate is managed by Kingdom Bank and is reviewed monthly.
  • Borrowers are given 14 days’ notice of any changes in the interest rate payable.
  • The overall cost for comparison is 7.60% APRC*

*The above APRC is based on a mortgage borrowing amount of £100,000 over 25 years at 7.20%

Current interest rate 6.15%

  • Available to borrowers where loan-to-value is less than 75% and affordability is above 150%.
  • This rate is managed by Kingdom Bank and is reviewed monthly.
  • Borrowers are given 14 days’ notice of any changes in the interest rate payable.
  • This discounted rate is available for the first three years of the mortgage, after which point it will revert to the Standard Variable rate.
  • The overall cost for comparison is 7.21% APRC* across all personal mortgages.

*The above APRC is based on a mortgage borrowing amount of £100,000 over 25 years at 6.15% discounted for the first 3 years, increasing to the Bank’s variable rate (currently 7.20%) for the remainder of the mortgage.

To see whether Kingdom Bank could provide you with a mortgage, please complete the form below. One of our friendly Christian mortgage team will be in touch to discuss your plans.

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You can also call us on 0115 921 7280 to discuss your enquiry.

Your property may be repossessed if you do not keep up repayments on your mortgage.