MT Finance, the specialist finance lender, has upped the maximum loan to value (LTV) on its buy-to-let (BTL) small house in multiple occupation (HMO) offering.
The maximum LTV will now be 80% and this will be available for MT Finance’s five-year fixed Tier 1 product, effective immediately.
It is available for properties with up to six rooms with no complex structure, and it has a maximum loan amount of £2m, subject to LTV limits. This offers significant flexibility to investors looking to expand their existing portfolios or refinance existing properties.
Marylen Edwards, director of mortgages at MT Finance, said: “We’re seeing continued strong demand in the HMO sector as investors seek higher yields in the current market. By increasing our maximum LTV to 80% on our five-year fixed rate product, we’re providing investors with greater leverage opportunities while maintaining our commitment to responsible lending.”
Last month, the firm lowered all its BTL mortgage rates by as much as 0.5%.
