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75% LTV Mortgage for HMO Property with 6 Tenants or 5 flats in Freehold

Attractive 5-Year Fixed Rate of 4.59% with no Minimum Income Criteria

This 4.59% 5 Year Fixed will provide 75% LTV on loans up to £500,000. Allows Multi Unit Freehold property configurations of up to 5 self contained units such as flats or studios within the property. Also available for Houses of multiple occupation with up to 6 bedrooms. No Early repayment charge outside of fixed rate period. No minimum income requirements. Also allows for SPV limited company applicants and Expats. Rental coverage is calculated at 125% on 4.59% interest stress.

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Description

Details

Pay Rate 4.59%
Rate Description 5 Year Fixed Rate
Reverting Rate LIBOR + 5%
Expiry 5 Years
Security Charge First charge basis
Maximum LTV 75%
Lenders Fee 1.5% (can be added to loan)
Minimum Property Value £100,000
Minimum Loan Size £75,000
Maximum Loan Size £500,000
Maximum Mortgage Term 25 years
Income Requirements No minimum income requirements or minimum time in employment or self-employed
Accepted Property Types Residential letting houses and flats in England and Wales.
Property Types Cont. Available to ex-council houses and flats. Studio flats (excluding bedsits) accepted.
HMO Property 6 Bedrooms maximum
Multi Unit Blocks Maximum of 5 units within the freehold of multi unit block. Flats or studio apartments
Tenancy Types Multiple AST. DSS tenants accepted. Student tenants accepted. Corporate tenants accepted housing association contracts accepted.
Landlord Experience For experienced landlords with a minimum of 3 existing investment properties
SPV Applicants Yes SPV Company accepted.
Rental Stress Test 125% at 4.59%
Product Reference HM10156
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DF50144 JV Development funding

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