Roma Finance has announced the launch of a five-year fixed rate mortgage product aimed at property investors, according to the firm.
The offering is a 75 per cent LTV five-year fix at 4.24 per cent plus the Bank of England’s 0.75 per cent base. The deal has a maximum loan value of £500,000 and includes an interest-only repayment option.
Landlords can use the product to acquire a buy-to-let, HMO property or exit a bridging loan, the lender adds.
Furthermore, the property does not need to be fully let as the borrower’s other income will be taken into account.
Roma Finance managing director Scott Marshall says: “Extending the reach of this mortgage to more types of investment property for purchase, refinance or as an exit strategy for a bridging loan will provide landlords with another route to financing their income-generating property.
“This is yet another example of how Roma Finance continues to develop new products for the market, and we expect this mortgage to be popular with property professionals.”