3mc has launched an exclusive range of buy-to-let mortgages funded by Precise Mortgages.
The range includes the following:
Choice of lifetime trackers, depending on LTV:
- 3.4% (lifetime tracker of 2.81% over 3 month libor) to 65% LTV
- 3.65% (lifetime tracker of 3.06% over 3 month libor) to 70% LTV
- 3.75% (lifetime tracker of 3.16% over 3 month libor) to 75% LTV
Rental calculations are based on 125% of pay rate. The minimum loan amount is £150,000, the maximum £3m to 65% LTV and£2m to 75% LTV.
There are no minimum income requirements for loans up to £1m.
ERCs have been reduced to three years, while there is the option of a 3.69% two-year fixed rate until 30/11/17 to 75% LTV .
Doug Hall, director of 3mc, said: “This range of exclusive products not only offers excellent value for money but, with a starting rate of just 3.4% for loans up 65% LTV, also one of the lowest ever stress test calculators that 3mc has been able to offer since we launched in 1996.
“The 3.4% deal will be particularly attractive for investors wanting to finance lower yielding properties, whilst the other products will hold appeal for landlords wanting to finance higher LTV deals.”
Alan Cleary, managing director of Precise Mortgages, said: “We’re delighted to be marketing this range of buy-to-let mortgages exclusively via 3mc. Applications can be submitted either direct to Precise with 3mc specified as the payment route or, alternatively, 3mc will provide a full packaging service.”