3mc unveils prime exclusive

The product is available at 5.49 per cent for two years at 80 per cent LTV for both purchase and remortgages.

It is available to both employed and self-employed landlords with no HLC. ERCs are however applicable at 6 per cent in the first year and 5 per cent in the second. There is also a 2 per cent arrangement fee.

Doug Hall, deputy managing director at 3mc, added: “This product has a rental calculation of 100 per cent of the initial pay rate with the added ability of a top slicing facility if rental does not suffice."