The offer, with a 4.99% rate, is available at up to 75% LTV
Buy-to-let lender Quantum Mortgages has announced the launch of its Single Unit Exclusive Edition Product, featuring a rate of 4.99%.
The offer, available for a limited time, is available at up to 75% loan-to-value (LTV) with a maximum loan amount of £1.5 million.
Eligibility criteria include a requirement for the rental value to be at least 125% of the interest-only mortgage payment, with a minimum loan amount of £100,000. To qualify, applicants must also hold at least one existing buy-to-let property and demonstrate a minimum of one year’s market experience.
The eligible property types include standard houses, bungalows, leasehold flats with a minimum of 85 years remaining on the lease, new build flats up to 75% LTV, and converted, purpose-built studio flats above 30 square metres. The offering also extends to ex-local authority flats and houses up to five storeys without deck access, provided certain criteria, such as owner-occupancy percentages, are met.
The lender, which reduced rates across its fixed term BTL products earlier this week, said the new product is only available in England and Wales, with tenancy terms accommodating standard ASTs up to 36 months, shared houses, and corporate lets up to five years.
The mortgage product has a minimum age requirement of 21 and extends to a maximum age of 85 at the end of the term, with no minimum income threshold. Quantum provides a maximum borrowing exposure of £5 million, with a credit profile requirement excluding adverse credit, other than one isolated utility or communications default registered in the last six years.
“The Single Unit Exclusive Edition is a game-changer for Quantum Mortgages,” Harsha Dahyea (pictured), head of sales at Quantum Mortgages, commented. “With a competitive 4.99% interest rate and flexible terms, it provides a unique opportunity to maximise returns on investment.”
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