The Mortgage Works relaunching its range of mortgages for houses of multiple occupancy from tomorrow.
Nationwide’s specialist buy-to-let arm put a temporary hold on this type of lending in the early days of the pandemic.
The new rates, available up to 75% LTV, include:
- Two-year fixed rates starting from 2.29% with a 2% fee
- Five-year fixed rates starting from 2.99% with a 2% fee
The new HMO mortgages can be used for purchase, remortgage or further advance.
A range of alternative fee and rate combinations are available.
TMW head of lending Daniel Clinton says: “At the start of the pandemic we paused HMO lending as the market faced increased uncertainty, especially with this type of property being largely occupied by students.
“We have continually reviewed the market and with normality in the sector returning as students return to face-to-face learning, we are now reintroducing our HMO product range.
“We have long supported the HMO market and our new range of products responds to a key need within the buy to let sector.”
