This is a Non Free Moving Cost package i.e. costs pertaining to legal documentation, disbursements, valuation fees and other relevant costs will be borne by applicants. 

Type of Facility

• Term Loan

Currency

• GBP only

Financing Amount

• Minimum loan: £100,000.00
• Maximum loan: £5,000,000.00

Opening of Rent Collection Account

• Borrower(s) shall open a Rent Collection Account with Maybank London branch.
• The net rental proceeds from the mortgage property will be assigned to this account and thereafter your housing loan repayment will be collected from this account.

Tenure

• Maximum of
  • 30 years tenure; or
  • Age of 70 years, whichever is earlier.

Property Type

• All completed residential properties including under construction landed and non-landed properties (from Zones 1, 2 & 3 only)

Minimum Lease

• The remaining leasehold period shall not be less than 50 years, inclusive of the financing years.

Lock-in Period

• One (1) year from loan disbursement date.

Purpose

• To finance the purchase of residential property for Buy to Let (BTL) only.
• To refinance existing loans from other banks provided the said property is used for BTL only.

Eligibility

• Age limit: Minimum - 18 years old; Maximum - 70 years old.
• HNW clients having existing relationship with Maybank Group. Call us to know on how to be part of Maybank HNW.

Margin of Financing

• Maximum of up to 80%.

Processing Fee

• £500.00 upon submission and £500.00 upon acceptance (both non-refundable).

Early Repayment Fee

• 3 months' notice or by paying 3 months interest in lieu of notice for part prepayment.
• 3% of the loan limit if the loan is redeemed within one (1) year from the date of disbursement.

Additional Information Required (for clients with more than 4 properties globally) **

• Customer's experience in BTL market - to provide documentary evidence.
• Business plan supporting merits of new borrowing(s).
• Documentation showing portfolio of properties and outstanding mortgages.
• Summary of asset and liabilities including tax liabilities for the existing property portfolio.
• Historical and future expected cash flows on the property to be declared to the Branch.

** Disclaimer: The interest rate for Portfolio Landlords differs from the above standard rate, which is subject to approval.

Law Firms

• Maybank appointed law firms.

Valuers

• Maybank appointed valuers.

Click here to see Mortgage Product Disclosure Sheet (PDS)