Market Financial Solutions (MFS) has today launched a new range of lower rate buy-to-let (BTL) mortgages, including special edition trackers with pay rates as low as 0.25% + BBR.
The new range allows brokers and their clients to choose their product fee depending on the borrower’s individual requirements, with flexibility to choose between a 2%, 4% or 6% fee, across all four tiers.
A higher product fee (added to the loan, not paid upfront) means borrowers can benefit from lower interest rates which can help with cashflow or generating a larger loan size.
MFS utilises unique tools to further boost loan sizes to aid landlords refinancing in an increased interest rate environment from when they originally took out a mortgage. The option to roll-up months of interest or defer part of the interest rate until redemption, means rental income goes further when calculating a maximum loan.
The specialist lender’s initiative has been created to help borrowers who are looking to raise the right amount of funds or require increased cash flow from their property investments. It also launches the product options just as it joins Legal and General’s panel of lenders, so more brokers can access the optionality they need to aid their clients.
Under the new range, by opting for a higher product fee, borrowers can access pay rates that start from just 0.25% over the Bank of England base rate when deferring 2% of the full rate.
MFS’s new range now has an extended term of 5 years (up from the current 3), still maintaining low early repayment charges in the first two years and giving flexibility of being free to leave afterwards, if a borrower wishes.
Paresh Raja, CEO of MFS, said: “At MFS, we appreciate it isn’t always easy for brokers and landlords to find solutions that combine rate, fee and overall loan size that allows them to purchase or refinance. Our new lower rates and wider fee options provide great flexibility and leverage to support a much wider group of customers. In the current climate, we see this as a shining example of how specialist lenders can innovate in order to help brokers and property investors, giving them the support they need to act with confidence.”
Find more information about MFS’s new range.