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75% LTV Mortgages for Large HMOs or MUFB with a Maximum of 20 Letting Units Professional Landlords.

Mortgage for large HMOs up to 20 Flats. 2.75% Fixed Stepped Rate for 5 Years

Low 5 year fixed-stepped rate for multi unit residential investment of up to 20 self contained letting units of flats, studio apartments, bedsits etc. 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 Rate2.75% year-1, 3.25% year-2, 3.75% year-3, 4.25% year-4, 4.75% year-5
Rate Description5 Year Fixed Stepped Rate
Reverting RateSVR currently 5.30%
Expiry31/10/21
Security ChargeFirst charge basis
Maximum LTV75%
Lenders Fee2% (can be added to loan)
Minimum Property Value£100,000
Minimum Loan Size£30,000
Maximum Loan Size£500,000 at 75% or £1,000,000 to 70% or £2,000,000 to 65%
Maximum Mortgage Term25 years
Income RequirementsNo 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 TypesResidential 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.
Multi Unit BlocksUp to 20 individual self contained letting units ( Flats, Studios, Bedsits)
Tenancy TypesMultiple AST. DSS tenants accepted. Student tenants accepted. Corporate tenants accepted inc local authority and housing association contracts accepted
Rental Stress Test130% at 7%
Product ReferenceHM90121
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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