One two-year product exclusively for SPV limited companies can be taken up to 75% loan to value (LTV) from £100,000 up to £500,000. With a £199 application fee and a 2.5% completion fee, the current variable pay rate is 4.74%. This is currently 3.70% below SVR.
A standard and consumer buy to let is also available for private landlords offering an initial rate of 4.54% variable also up to 75% LTV, with a £199 application fee, and 2.5% completion fee.
Tom Denman-Molloy, intermediary sales manager, said: “We’re really excited to be able to offer limited company landlords our flexible approach to mortgages once again and we think our new product can help landlords facing interest rate rises.
“By offering a percentage completion fee, we’ve been able to keep our initial rate down to help support a more favourable stress rate on the affordability assessment through the Interest Rate Coverage Ratio (ICR).
“We know that ICR is one of the biggest challenges that landlords face at the moment and these new products should help with that burden.”
