- 22nd January 2024
- Posted by: DMM
- Category: Uncategorised
Investors can now find an ultra flexible buy to let product designed for landlords who fall outside mainstream lending criteria for affordability and credit profiles. This is an ideal product for those borrowers who may otherwise not meet the criteria of many mainstream mortgage lenders.
This product has a 100% interest cover ratio (ICR) plus unlimited top slicing and with every application manually underwritten.
This product is designed for landlord investors that have complex, or perhaps unusual, portfolios including AirBnB rentals, holiday lets, etc.
- Multi-unit freehold blocks, a single freehold property divided into multiple lets (MUFBs) of less than 10 beds are considered on an aggregate value
- Over 10 unit MUFBs assessed on block value
- Semi-commercial property accepted, including properties above and adjacent to commercial property
- Vacant property accepted (3 months interest will be retained)
- Light refurbishment allowed
Loans available at 75% LTV, rates from 9.50% with no ERCs or exit fees. This ultra flexible buy to let product has a wider acceptance range than most other products and a great option for the current climate
Ultra Flexible Buy to Let Product – Borrower Types
The lenders consider a wide range of borrower types including;
- First-time landlords
- Professional portfolio landlords
- Private individuals
- Limited companies
- Off Shore LTDs
- SPVs and Trusts
- Ex Pats and Foreign Nationals from EEA/non-EEA
There are no minimum income requirements and borrowers with adverse credit history can also be catered for.
Loans available at 75% LTV, rates from 9.50% with no ERCs or exit fees.