Three are for self-contained, single unit properties at an Interest Coverage Ratio of 125% at product charging rate or 5%, whichever is the greater, and three are priced the same for Houses of Multiple Occupancy or multi-unit blocks with a 130% ICR at 7%.
John Heron, director of mortgages, said: “These new products have been designed for professional landlords who are looking to grow their portfolios at a time when confidence is returning to the buy-to-let market more generally.
“Landlords operating at the professional end of the market usually have more bespoke requirements and are investing in more niche properties so we have tailored three of our new products specifically for HMOs and multi-unit blocks.”
