Interest-Only Buy-to-Let Mortgage Rates

Flats above commercial: Above (or immediately adjacent) commercial premises up to max Tier LTV, except when a restaurant, takeaway, pub, or launderette; max LTV 60% Tier 2, 65% Tier 3, and considered to 70% Bespoke Tier 4.
UK footprint: Have active credit, accounts, or property in the UK. Offshore Foreign Nationals, Companies, or Expats without this assessed on Tier 3 or 4; min rent ICR may be increased, term cap 24 months, or interest payments retained from the loan at underwriter discretion.
Rolled interest: Over 6 months interest, to a maximum of 9 months, can be rolled-up at Underwriter discretion and plausibility assessment.
Deferred interest: Up to a maximum of 1.25% over whole term deferred at underwriter discretion and plausibility assessment.
ERC: 4%/3%/2%. No ERC during revert rate period.
Admin Fee: £199 per property (max £995), non-refundable, paid with val fee.
Pay rate: The rate shown utilises the highest available deferred interest option for the product.
Valuation: Typically Bricks & Mortar, based on vacant possession. Investment value by referral, e.g., favourable lease. Review of next 12 months’ demand and saleability. For mixed-use containing flats or HMOs we consider both commercial and residential rents.
*MFS Variable Rate (MVR): Last set on 01/10/2023

Flats above commercial: Above (or immediately adjacent) commercial premises up to max Tier LTV, except when a restaurant, takeaway, pub, or launderette; max LTV 60% Tier 2, 65% Tier 3, and considered to 70% Bespoke Tier 4.
UK footprint: Have active credit, accounts, or property in the UK. Offshore Foreign Nationals, Companies, or Expats without this assessed on Tier 3 or 4; min rent ICR may be increased, term cap 24 months, or interest payments retained from the loan at underwriter discretion.
Rolled interest: Over 6 months interest, to a maximum of 9 months, can be rolled-up at Underwriter discretion and plausibility assessment.
Deferred Interest: Up to a maximum of 1.25% over whole term deferred at underwriter discretion and plausibility assessment.
ERC: 4%/3%. No ERC during revert rate period.
Admin Fee: £199 per property (max £995), non-refundable, paid with val fee.
Pay rate: The rate shown utilises the highest available deferred interest option for the product.
Valuation: Typically Bricks & Mortar, based on vacant possession. Investment value by referral, e.g., favourable lease. Review of next 12 months’ demand and saleability. For mixed-use containing flats or HMOs we consider both commercial and residential rents.
*MFS Variable Rate (MVR): Last set on 01/10/2023

Trackers: Any changes to BBR applied from 1st of the following month. Any rolled up & capitalised months are calculated at TODAY’S BBR, not a predicted future value. MFS may use a stressed BBR to calculate max loan or require additional income evidence to prove resilience. May use 180 day valuation.
Flats above commercial: Above (or immediately adjacent) commercial premises up to max Tier LTV, except when a restaurant, takeaway, pub, or launderette; max LTV 60% Tier 2, 65% Tier 3, and considered to 70% Bespoke Tier 4.
UK footprint: Have active credit, accounts, or property in the UK. Offshore Foreign Nationals, Companies, or Expats without footprint this assessed on Tier 3 or 4; min rent ICR may be increased, term cap 24 months, or interest payments retained from the loan at underwriter discretion.
Rolled interest: Capitalise a number of months interest, paid at redemption. Can boost loan size or provide time to do light refurb/find a tenant.
Deferred Interest: Capitalise part of the interest rate during initial period, paid at redemption. Reduce direct debit size or boost loan size.
ERC: 3%/2.5%. No ERC during revert rate period.
Admin Fee: £199 per property (max £995), non-refundable, paid with val fee.
Pay rate: The rate shown utilises the highest available deferred interest option for the product.
Valuation: Typically Bricks & Mortar, based on vacant possession. Investment value by referral, e.g., favourable lease. Review of next 12 months’ demand and saleability. For mixed-use containing flats or HMOs we consider both commercial and residential rents.
*MFS Variable Rate (MVR): Last set on 01/10/2023

Hard ‘Gross loan’ limit. Product or broker fees and rolled up interest will reduce gross loan.
Owner Occupier: where client will also occupy the commercial element as their own business. See criteria for further details.
UK Footprint: Have active credit, accounts, or property in the UK. Offshore Foreign Nationals, Companies, or Expats without this assessed on Bespoke Tier; min rent ICR may be increased, term capped, or interest payments retained from the loan at underwriter discretion.
ERC: 3%, 2.5%. No ERC during revert rate period.
Admin fee: £250 per property, max £1,995. Waived for existing customers.
Bespoke: Certain property/individual/adverse combinations may result in a reduced LTV or a bespoke rate on Tier 2. To be confirmed upon enquiry.
Valuation: Typically Bricks & Mortar, based on vacant possession. Investment value by referral, e.g., favourable lease. Review of next 12 months’ demand and saleability. For mixed-use containing flats or HMO we consider both commercial and residential rents.
*MFS Variable Rate (MVR): Last set on 01/10/2023