New HMO buy-to-let mortgage deal launched

A new buy-to-let mortgage deal is available for experienced landlords of Houses in Multiple Occupation.

It is being released by Solent Mortgage Services (SMS), an intermediary specialist lending distributor, in association with Melton Mowbray Building Society.
 
Rates are from 4.39%, with a loan to value of up to 75%, on properties with a minimum value of £75,000.  
 
According to Ian Balfour, CEO at SMS, the new product provides new opportunities for brokers with professional landlords.
 
He said: “We have worked very closely with Melton Mowbray to design a product which provides a really cost-effective alternative for landlords, particularly those with large portfolios, who are looking to drive down costs."

“We are delighted to be working with such an innovative lender.”