Buy to let rates for loans of £1m+

If you are a residential landlord looking for a buy to let mortgage of more than £1m on a single property, you’ve come to the right place. Jeni chooses some of her favourite competitive options available and looks at some case studies which demonstrate how we've helped landlords borrow larger sums...

Forget the common misconception that large mortgages on a single property are hard to get; Mortgages for Business works with high net worth clients daily, sourcing finance for properties well in excess of £1m.

As always, how we go about choosing which lender is right for you depends on your specific circumstances, but so you can get an idea on what’s available we’ve highlighted three of our favourite deals for large loans that are available now.
 

1.54% 2 year fixed rate (4.6% APR)*

Max loan to value: 60%                             Max loan amount: £1m +

Product details: Fixed at 1.54% for 2 years (to 01/07/2019) reverting to lender's Standard Variable Rate (currently 4.74%, variable). For remortgages only.

Borrower:

Individual names

ERCs:

Early Repayment Charges apply.

Product highlights:

• £500 cash back                                                                                 • Ex-Local Authority property accepted

• Customers may apply for a one month payment holiday*                      • New builds accepted

You can repay up to 10% of the capital per year. without penalty.


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2.33% 2 year fixed rate (4.2% APR)**

Max loan to value: 75%                             Max loan amount: £1m +

Product details: Fixed at 2.33% for 2 years (to 30/04/2019) reverting to lender’s Standard Variable Rate (currently 4.25%, variable). For purchases only.

Borrower:

Individual names

ERCs:

Early repayment charges apply.

You can repay up to 10% of the capital per year. without penalty.

Product highlights:

• Lender arrangement fee of £995                                                             • Gifted deposits accepted

• First time buyers and first time landlords accepted                           


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                    Request more info

 

3.39% 3 year fixed rate (6.0% APR)*

Max loan to value: 65%                             Max loan amount: £1m +

Product details: Fixed at 3.39% for 3 years reverting to lender’s Standard Variable Rate (currently 6.33%, variable). For purchases and remortgages.

Borrower:

SPV Ltd Co’s, LLPs and individuals

ERCs:

Early repayment charges apply.

Overpayments of up to a maximum of £499 per month can be made without penalty.

Product highlights:

• Up to 85 years at the end of the loan term                                         • No minimum income requirement

• HMOs and multi-unit property accepted                                              • Ex-LA property accepted

• Overpayments of up to a maximum of £499 per month can be made without penalty.


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                    Request more info


Want to discuss your specific scenario? Get in touch with one of our expert brokers today

START AN ONLINE CHAT      

EMAIL: ENQUIRY@MORTGAGESFORBUSINESS.CO.UK

CALL: 0345 345 6788


Take a look at some of the cases we’ve placed for large loans recently...

SevenSisters.jpg     4-floor flat.jpg      2bed flat.jpg

>> Property developer                  >> SPV Ltd Co refinances £2m     >> Remortgage of £2.3m
remortgages new build                multi-unit within 6 months of       Brighton holiday let 
block of flats onto                        purchase                                                                            
£1.6m + BTL mortgage           


 
Notes:
*Fixed at 1.54% for 2 years (to 01/07/2019) reverting to Lender’s Standard Variable Rate (currently 4.74%, variable). For remortgages. Early Repayment Charge: 2.5% of the amount being repaid until 01/07/2019. Overall Cost for Comparison: 4.6% APR. Loan to Value: 60% loan to value up to £1,000,000 loan amount. Lender Arrangement Fee: £1,995 due on completion. Broker fee: A broker fee of £497 will apply (other fee options available). Repayment Options: Interest only or repayment. Rent to Interest Cover: The rental income must exceed 145% of the cost calculated at a rate of 5.5%. Minimum Income Required: £25,000 per annum.

**Fixed at 2.33% for 2 years (to 30/04/2019) reverting to Lender’s Standard Variable Rate (currently 4.25%, variable). For purchases. Early Repayment Charge: 2% of the amount being repaid until 30/04/2018 then 1% until 30/04/2019. Overall Cost for Comparison: 4.2% APR. Loan to Value: 75% loan to value up to £2,000,000 property value. Lender Arrangement Fee: £995 added to loan. Broker fee: A broker fee of £497 will apply (other fee options available). Repayment Options: Interest only or repayment. Rent to Interest Cover: The rental income must exceed 145% of the cost calculated at a rate of 5.5%. Minimum Income Required: £25,000 per annum.

***Fixed at 3.39% for 3 years reverting to Lender’s Standard Variable Rate (currently 6.33%, variable). For purchase and remortgages. Early Repayment Charge: 3% of the amount being repaid for the first 3 years from draw down. Overall Cost for Comparison: 6% APR. Loan to Value: 65% loan to value up to £3,000,000 loan amount. Lender Arrangement Fee: 1.25% added to loan. Broker fee: A broker fee of £497 will apply (other fee options available). Repayment Options: Interest only or repayment. Rent to Interest Cover: The rental income must exceed 145% of the cost calculated at a rate of 5.5%. Minimum Income Required: No minimum income requirement per annum.

 

 

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