MFS are delighted to announce some key criteria and rate enhancements that we have implemented across the MFS product ranges that are available with immediate effect up to 75% LTV. This includes our maximum term being increased to 10 years across our entire Buy to Let range and fixed rates being introduced into our Commercial and Semi-commercial ranges.
Highlights of our enhancements include:
Buy to Let
- Maximum term increased to 10 years (previously 5 years) for our Buy to let range.
- First Time Landlords now available on Tier 2 including HMOs as opposed to Tier 3 (Tier 4 for OMV)
Commercial and Semi-commercial
- NEW 2 and 3 year Fixed rates are now available on our Commercial and Semi-commercial ranges up to 70% LTV
- Maximum term increased to 10 years for our Commercial and Semi-commercial ranges
- We’ve lowered rates across our Commercial and Semi-commercial ranges – deferred rates from 5.64% (6.89% without deferred interest)
- Commercial and Semi-commercial maximum loan increased from £1.5 to £2m
- Light industrial with metal frame/shell now considered up to 65% LTV (Brick construction up to 70%)
Bridge Fusion
- Simplified ERC structure, now a flat 2.5% instead of 3 months interest
- Rate reductions across range by up to 95bps
Bridging
- Bridging term maximum reduced to 18 months (Bridge Fusion allows longer terms up to 24 months (extension to 3 years available) on loans up to £20m.
- Fixed rates from 0.9%
I hope you will agree that these changes are an example of how MFS are constantly reviewing, adapting, and implementing solutions that can assist your customers in achieving their borrowing aspirations, especially when combined with our flexible criteria and market leading affordability.
I would really appreciate your support in promoting these products with your members and if there is anything that you need from a marketing perspective, please just let me know and I’ll be happy to work with you on this. (Links to our guides below for ease).
BTL / Commercial & Semi-Commercial
Should you have any questions in relation to the above or cases that you wish to discuss, please do not hesitate to contact myself or your local BDM.