Landlord and BTL Blog: New BTL products for HMO landlords

Tuesday, June 11, 2013

New BTL products for HMO landlords

Property Hawk Mortgages is offering a new product range from Shawbrook Bank which provides new options for landlords, especially professionals. The products include 3, 5 and 10 year tracker rates up to 75% LTV which are available for HMOs, student lets, limited companies and portfolios.

Andy Young at Property Hawk Mortgages said: “We are delighted to offer this new product range from Shawbrook Bank which provides new options for landlords, especially professionals. At the moment there are only a couple of lenders operating in the specialist buy-to-let market, so it is great to see another lender offering solutions for buy-to-let investors.

“As a predominantly commercial lender, Shawbrook takes a flexible approach to lending, looking at the overall proposition of the case rather than ticking rigid criteria boxes. This should be of benefit to landlords who have less mainstream lending requirements.”

Loan to value	Initial rate	Term	Rental calculation	Early repayment charge	Completion fee	Notes
Up to 70%	5.50% LIBOR tracker	3, 5 and 10 year options available	110% at 6.5% for 3 and 5 year mortgages. 110% at 7.5% for 10 year mortgages.	Tapered charges of 3% for each year and 1% in the final year	1.7%
Up to 70%	5.70% LIBOR tracker	3, 5 and 10 year options available	125% at 7.7%	Tapered charges of 3% for each year and 1% in the final year	1.7%	Available for HMO properties, limited companies and student lets.
Up to 75%	5.70% LIBOR tracker	3, 5 and 10 year options available	110% at 6.5% for 3 and 5 year mortgages. 110% at 7.7% for 10 year mortgages.	Tapered charges of 3% for each year and 1% in the final year	1.7%
Up to 75%	5.95% LIBOR	3, 5 and 10 year options available	125% at 7.7%	Tapered charges of 3% for each year and 1% in the final year	1.7%	Available for HMO properties, limited companies and student lets