Buy-To-Let Mortgage

If you own a home in the UK and are thinking about buying a property in Spain as an investment, Barclays can offer you the Buy to Let Mortgage. It's specifically designed for you if you are not planning to become a resident in Spain, but simply want to buy a property to use as holiday home and rent out when you're not using it. There's also an Interest Only option for the first 10 years on the term to reduce your initial repayments. The mortgage must be repaid in full by the end of the term.

LOAN AMOUNT:

• Minimum loan amount 120,000 euros
• Maximum loan amount 500,000 euros
• You can borrow up to 50% of the appraised value of the property, but never more than the purchase price.

TERM:

• No minimum term
• Maximum term of 20 years

INTEREST RATE:

• Variable rate of 6.06%,

Based on 12 month EURIBOR 4.56% +1.50%. Rates published 23/08/2007*. TAE **

The overall cost for comparison is 6.4% APR.

Rates are subject to change and are for illustrative purposes only.

COMPULSORY PRODUCTS:

There are no compulsory products with this mortgage but please refer to 'Current accounts and Everyday Banking' section to see our other supplementary benefits (e.g. local bank account, insurance and savings).

CHARGES:

• 1% arrangement fee on the loan amount (minimum of 600 euros). There is a 0.25% reduction for existing customers of Barclays in the UK.
• No early repayment charges for partial repayment of the loan.
• 1% fee chargeable on full repayment of the loan.

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