The Mortgage Works (TMW) will be relaunching its range of House of Multiple Occupancy (HMO) mortgages tomorrow (11 November).
The new rates, available up to 75% loan-to-value (LTV), include a 2-year fix at 2.29% and a 5-year fix at 2.99%. Both products include a 2% fee.
The new HMO mortgages are available for purchase, remortgage or further advance with other rate/fee combinations also available.
Daniel Clinton, head of lending at TMW, said: “At the start of the pandemic we paused HMO lending as the market faced into increased uncertainty, especially with this type of property being largely occupied by students.
“We have continually reviewed the market and with normality in the sector returning as students return to face-to-face learning, we are now reintroducing our HMO product range.
“We have long supported the HMO market and our new range of products responds to a key need within the buy-to-let sector”.