The new products include a 125% income coverage ratio, they are available to first-time buyers and also allow up to 4 applicants. Available up to 80% LTV, 5-year fixed rates start at 4.99% and individuals, corporate borrowers including limited companies and ex-pat borrowers are accepted.
In addition, HMOs and MUFBs are allowed up to 10 bedrooms/units, plus the range also accepts holiday lets and ex-local authority properties.
Dale Jannels, Managing Director at Impact Specialist Finance, commented: “Despite the challenging economic outlook, it’s great to see lenders such as MT Finance provide yet more choice for brokers and their property investor clients. Our relationship with MT Finance spans many years and so we are delighted to have been chosen as one of the initial band of businesses to launch their buy-to-let proposition to market.”
Marylen Edwards, Head of BTL Lending at MT Finance, said: "MT Finance has launched into the BTL market with the intention to cover areas of criteria where we feel there was a niche amongst our peers. For example, our 125% income ratio cover across the board allows more flexibility on borrowing for clients.
"We are also able to review cases as they are submitted. In a market where there is some strain on SLAs, we have just offered on a case 7 working days after submission of the application.”
