A new two-year fixed rate buy-to-let mortgage deal, which is funded by Precise Mortgages, has been launched by mortgage distributor 3mc.
The mortgage is available from 3.49% up to 75% loan-to-value (LTV) and is suitable for those making fresh acquisitions or remortgaging multi-tenanted units and HMOs, including limited company HMOs.
Alan Cleary, managing director of Precise Mortgages, said: “We’re delighted to be working with 3mc to offer this two-year fixed rate buy-to-let product to brokers and their clients.
“We’re experiencing significant demand for funding for HMOs and limited company HMOs and I have no doubt this exclusive deal will prove to be very popular.”
The product has an ICR from 125% based on customer circumstances, a £995 arrangement fee and ERCs of 4% in year one and 3% in year two.
The deal is available to all intermediaries and through 3mc’s network partners The Right Mortgage and Protection Network, Sesame, Stonebridge Network, Home Loan Partnership and to directly authorised members of the PMS Mortgage Club.
Doug Hall, director of 3mc, commented: “We continue to receive an increasing number of enquiries about HMOs, including limited company HMOs, and this exclusive product funded by Precise Mortgages gives brokers access to a very competitive deal. Brokers are guaranteed to receive a fast and professional service from 3mc.”