MT Finance has launched a new 7% fee BTL mortgage, with rates starting from 3.6%.
The new product is available as part of the lender’s standard BTL range for both individual and corporate borrowers.
It offers two- and five-year fixed-rate options at 75% LTV, priced at an initial rate of 3.6% and 4.6% respectively, with a revert rate of BBR + 5%.
The new product is available for lending against houses, leasehold flats, maisonettes and new build properties.
Marylen Edwards, head of lending for BTL at MT Finance, said: “By offering a product with a higher fee but lower interest rate, landlords and investors will have more flexibility on ICR stress against rental received to assist with their borrowing.
“While the property market is starting to show signs of recovery, it is vital that we continue to support BTL borrowers, and this is what we are committed to here at MT Finance.”
