Impact Specialist Finance has launched a range of buy-to-let (BTL) mortgages through MT Finance.
The range is only available through a select group of packers, which includes Impact Specialist Finance.
The products include an income coverage ratio of 125%, which is available for first-time buyers (FTB) and allows up to four applicants.
Available at up to 80% LTV, five-year fixed rates start at 4.99%. Individuals, corporate borrowers including limited companies and expatriate borrowers are all accepted.
Additionally, Multi-Occupancy Homes (HMOs) and Multi-Unit Freehold Buildings (MUFBs) are permitted up to 10 bedrooms/units, and the range also accepts vacation rentals and former local authority properties.
Dale Jannels, managing director of Impact Specialist Finance, comments: “Despite the difficult economic outlook, it is great to see lenders such as MT Finance offering even more choice to brokers and their property investor clients.”
“Our relationship with MT Finance spans many years and so we are delighted to have been chosen as one of the first business groups to bring their buy-to-let proposition to market.”
Marylen Edwards, Head of BTL Loans at MT Finance, adds: “MT Finance entered the BTL market with the intention of covering areas of criteria where we felt there was a niche among our peers. For example, our 125% income ratio coverage at all levels allows more borrowing flexibility for clients. »
“We are also able to review cases as they are submitted. In a market where there is some pressure on SLAs, we have just offered a dossier seven working days after the request has been submitted.