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Mortgage for Large HMOs up to 20 Rooms

2.75% Fixed Stepped Rate for 5 Years

Suitable for large HMO Multi Unit Block Investment Property

Low 5 year fixed-stepped rate for multi unit residential investment of up to 20 rooms. 75% Loan to value maximum loan of £500,000 or £1m at 70% LTV. This 5 year stepped rate is fixed for each year starting at 2.75% , increasing by 0.5% pear year. ending at 4.75% in the fifth year. This gives an average fixed rate of 3.75% which is very competitive for a five year fixed rate period.

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Description

Details

Pay Rate 2.75%, 3.25%, 3.75%, 4.25%, 4.75%
Rate Description 5 Year Fixed Stepped Rate
Reverting Rate SVR currently 5.30%
Expiry 31/10/21
Security Charge First charge basis
Maximum LTV 75%
Lenders Fee 2% (can be added to loan)
Minimum Property Value £75,000
Minimum Loan Size £30,000
Maximum Loan Size £500,000
Maximum Mortgage Term 25 years
Income Requirements No minimum time in employment but must be permanent and not in any probation period. £25k joint or single minimum income. Self employed must have a minimum of 2 years trade.
Accepted Property Types Residential letting houses and flats in England and Wales.
Property Types Cont. Available to ex-council houses (exc. flats). Studio flats and bedsits accepted. Maximum of 20 units within the freehold.
Tenancy Types Multiple AST. DSS tenants accepted. Student tenants accepted. Corporate tenants accepted inc local authority and housing association contracts.
Rental Stress Test 130% at 7%
Product Reference HM90121
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75% LTV 5 Year Fixed 2.75%

For more details about this product or to check if this will be suitable for you, call us on 0117 2232 050