"HMOs are increasing in popularity as investors seek higher returns and the one year fix is ideal for landlords who are looking for a short-tem product while repairing their credit record."
The two-year fixed rate targets HMOs and is available at a rate of 3.74% up to 75% LTV.
The product is available on a maximum loan size of £250,000 and comes with a £1,995 arrangement fee.
The deal is available to all intermediaries and through 3mc’s network partners The Right Mortgage and Protection Network, Sesame, Stonebridge Network, Home Loan Partnership and to directly authorised members of the PMS Mortgage Club.
3mc has also launched a packager exclusive buy-to-let one-year fixed rate deal, offering £300 cashback.
The product has a rate of 3.69% for Precise Tier 2 products or 3.95% for Precise Tier 3 products.
This rate is also available for both BTL and limited company and has a 2% arrangement fee.
Doug Hall, Director of 3mc, said: “Both of these products are ideally suited for today’s buy-to-let market. HMOs are increasing in popularity as investors seek higher returns and the one year fix is ideal for landlords who are looking for a short-tem product while repairing their credit record.”
Alan Cleary, Managing Director of Precise Mortgages, said: “The buy-to-let market is continuing to evolve and these two products have been designed to meet the needs of the market in 2017. As well as offering competitive rates and accommodating criteria, borrowers will also benefit from a revert rate of 3.5%, which is designed to remove any payment shock at the end of the fixed rate period."
