Here are two of the latest HMO products published this week by lenders
Landbay bulks up it’s offering with a 5-year fixed product for BTLs, HMOs and Multi unit blocks (MUFB)
Landbay announced these products saying this will help landlords manage “challenging rental calculations”
The range consists of 3 standard 5 year fixed rate loads up to 75% LTV starting at 6.49%.
Freehold blocks of up to six beds or units start at 6.99%
For HMOs up to 12 beds or units, rates start at 7.09%
The Mortgage Works (TMW) loosens stress rates for landlords
The Mortgage Works introduced a stress rate of 8.49% at the start of the month at the height of the interest rate turmoil following the botched financial statement from Kwasi Kwarteng.
Fixed rates for limited and non limited companies will be pay rate plus 2%
Fixed rate for products longer than 5 years will be pay rate plus 1.5% for non limited companies and 0.5% for limited companies
Tracker and variable for non limited companies will be 5% and for limited at 4%
The average rates will therefore be between 6.64% and 8.79%, a spokesperson for the TMW has said.