
Rely completes £2.4m MUFB remortgage for experienced landlord
The transaction involved a 55-unit residential block held on a single freehold, with a market value of £3.2m.

The transaction involved a 55-unit residential block held on a single freehold, with a market value of £3.2m.

The lender’s large HMO and MUFB Lifetime Tracker products, which are available on properties up to 12 bedrooms/units, will start from 5.74% and offer no early repayment charges (ERCs).

The product, available from today, is aimed at MUFBs with seven or more units and is priced at 4.99%, comprising 1.24% above the Bank Base Rate, currently 3.75%.

The new additions include three Core 2-year tracker PT products, alongside new 2-year trackers for both Specialist small HMO and small MUFB.

The specialist buy-to-let lender’s new special edition range offers a 0.15% reduction on the core range, with rates starting at 3.34%.

The lender has brought back its ERC3 5-year fixed-rate product, which has early repayment charges (ERCs) for only three years of the term.

The new 65% LTV range is aimed at landlords with higher levels of equity and includes a mix of 2- and 5-year fixed-rate options.

The lender has also reduced rates by 0.05% across its standard buy-to-let (BTL) products.

The 2-year fixed rate standard mortgage product is now 2.79% up to 75% LTV, with a 7% fee.

The new products include a 2-year fixed rate at 3.14% with a 7% fee, and a 5-year fixed rate at 5.04% with a 7% fee, both up to 75% loan-to-value (LTV).

In the 2-year range, the £1,999 fixed-fee product has been reduced by 0.15% to 5.49%, while the 3% fee option has dropped 0.10% to 4.24%.

The facility refinanced an existing loan secured against the 131-unit MUFB, while also releasing capital to enable the borrower to pursue further growth opportunities.
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