Tuesday, February 14, 2017
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Atom bank cuts commercial mortgage rates
YBS Commercial introduces new tracker product and reduces rates
Oaknorth provides £12.2m for two residential schemes
Fleet Mortgages is offering some of the most generous buy-to-let and limited company mortgage loan sizes.
The specialist lender offers fixed and tracker rates exclusively through the intermediary sector to landlords looking for buy-to-let, limited company and Houses in Multiple Occupation (HMOs).
With a rental calculation of 125 at 5% the lender provides considerably larger loans than many of the high street banks and building societies.
If a property generates £2,500 rental income per month, Fleet could potentially lend up to £480,000. This increases to £960,000 if the rent is £5,000 each month.
The maximum age for clients is 85 at the end of the term and the term is capped at 30 years. Arrangement fees range between 1% and 2% of the loan amount and applicants will need a deposit of at least 20% to qualify.
The lenders acceptance criteria says limited companies must be in a Special Purpose Vehicle registered within England or Wales. Also, for Mult-Unit Blocks the freehold must be split into three or more self-contained units.
To secure a more generous loan size through Fleet Mortgages, call Trinity Specialist Finance on 020 7016 6151.
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