Buy to let lending criteria is becoming more relaxed with only a 15% deposit required for buy to let.
NSFS is delighted to offer these excellent semi-exclusive buy-to-let products with Kent Reliance.
These are the only buy-to-let mortgage rates currently available up to 85% LTV. They could be an excellent choice for your landlord clients who are looking to employ higher gearing in their property investments.
My reservation about the Kent Reliance is the high follow-on rate, currently 6.85% (7.10% APR)
UPDATE 16/01/2014 – NEW LENDER – INTERBAY COMMERCIAL
Interbay Commercial has launched a new 85% buy to let mortgage.
Rate From 4% over 3-month libor.
Rental coverage based on 110% at payrate.
Multiple units on one title
Rates with Kent Reliance 1/7/2013.
| Loan to value | Initial rate | Term | Reverting to | Rental calculation | Early repayment charge | Completion fee | Notes |
| Up to 85% | 4.89% discount (1.69% off the lender’s SVR) | 2 years | Lender’s standard variable rate (currently 6.58%) | 125% at 5% | None | 2.5% (can be added) | |
| Up to 85% | 4.99% fixed | 2 years | Lender’s standard variable rate (currently 6.58%) | 125% at 5% | 4% in year 1, 3% in year 2 | 2.5% (can be added) | |
| Up to 85% | 5.99% discount (0.59% off the lender’s SVR) | 2 years | Lender’s standard variable rate (currently 6.58%) | 125% at 5.99% | None | 2.5% (cannot be added) | Also available on limited companies, HMOs, student lets and freehold units split into flats |
| Up to 85% | 6.19% discount (0.39% off the lender’s SVR) | 3 years | Lender’s standard variable rate (currently 6.58%) | 125% at 6.19% | None | 3.0% (cannot be added) | Also available on limited companies, HMOs, student lets and freehold units split into flats |
An application fee and booking fee will normally apply. Maximum loan £1,000,000.
Why use Neil Soundy Financial Services for your mortgage advice.
We will give you expert impartial advice on the mortgage market.
Your initial consultation is free with no obligation.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
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