3mc announces exclusive buy-to-let deal
3mc has launched a buy-to-let mortgage deal funded by Precise Mortgages targeting houses in multiple occupation (HMOs) available for individuals and limited companies.
The deal features a 2-year fix at 3.74% at 75% loan-to-value with an arrangement fee of £1,995 and a maximum loan size of £250,000.
3mc is also marketing a packager exclusive buy-to-let one-year fixed rate deal offering £300 cashback.
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-term product while repairing their credit record.”
The one-year fixed rate buy-to-let exclusive is at a 3.69% fixed rate for Precise tier two products or 3.95% at a one-year fix for Precise tier three products with an LTV of 75% and an arrangement fee set at 2%.
Alan Cleary, managing director of Precise Mortgages, added: “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.”
The deal is available to all intermediaries and through 3mc’s network partners.