BTL Mortage Products Update

Just to get away from the mainstream products (which havent really changed), we thought we'd show you two different angles, namely an HMO product and one for Holiday Lets.

HMO from CPUK (a specialist packager)
Only lend to professional landlords (with a proven record with BTLs)
Max 70% LTV
8.99% 3 yr fixed rate
Max term of loan 3 years!!!
3% arrangement fee
Fixed legals at £850
£350 admin fee
Will go up to 15 units (can negotiate)
Interest only
No minimum income but must evidence current rental income on bank stats

Holiday Let from Principality
5.49% fix to 30/11/2012
2.5% arrangement fee
4% redemption to 30/11/2012
Max 60% LTV
Rental calculation at 125% (but as always, based on surveyors comments)

Hopefully some food for thought there; they are a little complex to explain in this email so just give us a call to go into more details on either of them.