If you’re looking for finance on your next buy-to-let property but are having challenges with lenders who have a minimum rental requirement then take a look at the below BTL product which is available through RLA Mortgages.
The mortgage has the following features:
- Available for the purchase and remortgage of rental property
- Lifetime Tracker (Libor + 2.81%) for term of mortgage, currently 3.4% (3.6% APR) up to 65% LTV
- Minimum rental coverage required is based on 125% of the pay rate
- 3% early repayment charge in year 1, 2% in years 2 to 3
- 2% lender arrangement fee (can be added) & £295 broker fee for members (normally £495)
Our buy-to-let mortgage experts, 3mc, support you throughout all the steps of the process and can even help you to find mortgages for unusual property and tenancy types, including HMO properties and properties with Housing Benefit tenants. All for a fixed broker fee of £295 for RLA members.
Please note lenders have different minimum criteria requirements and not all landlords and property types will qualify for this specific product. For further information contact RLA Mortgages.
This is a financial promotion and in no way should it be viewed as a personal recommendation or advice. Before a recommendation/advice can be given you should seek independant mortgage or financial advice.
RLA Mortgages is operated exclusively for the RLA by 3mc, which is authorised and regulated by the Financial Conduct Authority. FCA No. 302992. ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Although the FCA regulate the way the majority of mortgages are sold, in most cases they do not regulate buy to let mortgages. This means you may have less protection if things go wrong with a buy-to-let mortgage. All calls are recorded for training and monitoring purposes.