Portfolio landlords now have access to four new five-year fixed-rate mortgages, with rates starting at 5.40%, and a reduced interest coverage ratio (ICR) calculation rate starting at 5.50%.
Five-year fixed-rate mortgages, with initial rates starting at 5.40%, are available at up to 75% LTV to non-portfolio landlords – those with between one and three mortgaged buy-to-let properties. The ICR is also set at 5.50% on this loan.
All products include free mortgage valuations and are available on houses in multiple occupation, multi-unit blocks, and single self-contained properties.
Moray Hulme, (pictured) Director for Mortgage Sales, said: “We’re really pleased to be able to expand our product range and offer more choice to buy-to-let investors with both small and large portfolios. Some will find the certainty of our competitively priced fixed rates appealing, especially as the ICR - which we’ve further reduced - should help to make the sums work for more borrowers.”
