BTL Mortgage Product Pick

Just to reiterate, for the best 75% deals at the moment we have:

BM Solutions
Interest rate: 4.35%

LTV: 75%

Product Detail: 1 year tracker 

Arrangement Fee: 3%

Early Redemption Penalties: 3% in first year.

Our thoughts: The lowest rental cover for 75% loan to value mortgages but watch the reversionary rate after the first year.

Natwest

Interest rate: 5.79%

LTV: 75%

Product Detail: 2 year tracker 

Arrangement Fee: £1499

Early Redemption Penalties: 3% in first 2 years.

Our thoughts: No credit scoring and for high value properties the set arrangement fee can work out advantageous.

Also remember the HMO mortgage we told you about last week well, we have submitted a couple of cases already so should be able to give you feedback in the next few weeks about how those cases are going. To remind you:

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.