Mercantile Trust have announced an intermediary update which is available below.
We have reduced our BTL Rates
We have reduced our rates on our 1st and 2nd charge BTL term proposition. To download the updated matrix, please click here.
First Charge proposition
- Rates now start from 11.08%
Second Charge proposition
- Rates now start from 11.33%
Proposition highlights:
- Up to 75% LTV
- Loans from £10,000 up to £500,000
- Rental coverage 125%
- No minimum income requirements
- Top slicing allowed
- Minimum valuation £75,000
- Impaired credit (1 unit in 12)
- England/Wales/Scotland/
Northern Ireland
Perfect solution for those looking to capital raise for:
- Deposits
- Refurbishments/EPC Upgrades
- Business purposes
Where speed is of the essence
- In house conveyancing and no legal cost on second charges
- In house conveyancing and no legal cost on refinances up to £100k
- Automated valuations (subject to criteria and confidence score)
We pride ourselves on assessing each and every case on its individual merit, our human underwriting approach enables us to make common sense lending decisions. We encourage brokers to refer enquiries to the mortgage desk that perhaps fall outside of the normal.