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85% LTV Mortgage for HMOs with a Maximum of 8 Letting Rooms or 4 Units

Suitable for large HMO Multi Unit Block Investment Property

Good 5 year fixed rate for multi unit residential investment of up to 4 self contained letting units of flats, studio apartments within freehold or 8 bedrooms let to unrelated tenants in licensed HMO . 85% Loan to value maximum loan of £1m at 85% LTV. Flats above commercial accepted

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Description

Details

Pay Rate5.29%
Rate Description5 Year Fixed Rate
Reverting RateSVR currently 6.58%
ExpiryNA
Security ChargeFirst charge basis
Maximum LTV85%
Lenders Fee2.5% (can be added to loan)
Minimum Property ValueLTV Dependent
Minimum Loan Size£75,000
Maximum Loan Size£1,000,000
Maximum Mortgage Term35 years
Income Requirements6 months in current position , or 3 years trading history for 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 accepted. Bedsits not accepted. Maximum of 4 units within the freehold. Flats within freehold house accepted. 8 Bedrooms (8 unrelated tenants) in HMO maximum.
Multi Unit BlocksUp to 4 individual self contained letting units ( Flats, Studios)
Tenancy TypesMultiple AST or Single AST. Student tenants accepted.
Rental Stress Test130% at 5.29%
Product ReferenceHM10123
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HMO 85% LTV 5 Year Fixed 5.29%

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