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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 Rate4.59%
Rate Description5 Year Fixed Rate
Reverting RateLIBOR + 5%
Expiry5 Years
Security ChargeFirst charge basis
Maximum LTV75%
Lenders Fee1.5% (can be added to loan)
Minimum Property Value£100,000
Minimum Loan Size£75,000
Maximum Loan Size£500,000
Maximum Mortgage Term25 years
Income RequirementsNo minimum income requirements or minimum time in employment or self-employed
Accepted Property TypesResidential letting houses and flats in England and Wales.
Property Types Cont.Available to ex-council houses and flats. Studio flats (excluding bedsits) accepted.
HMO Property6 Bedrooms maximum
Multi Unit BlocksMaximum of 5 units within the freehold of multi unit block. Flats or studio apartments
Tenancy TypesMultiple AST. DSS tenants accepted. Student tenants accepted. Corporate tenants accepted housing association contracts accepted.
Landlord ExperienceFor experienced landlords with a minimum of 3 existing investment properties
SPV ApplicantsYes SPV Company accepted.
Rental Stress Test125% at 4.59%
Product ReferenceHM10156
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