Buy-to-let mortgage from Birmingham Midshires for mum

lesley2020

Since my dad's death, my mum has moved into her sister's place and so is thinking of renting out her semi (original mortgage now finished). Needs a bit of work, so someone recommended a Buy-to-Let mortgage from Birmingham Midshires or some part of them. Amount would be £40,000 which would do up the place, add a conservatory and also pay off a couple of debts. The terms seem good i.e. the first two years the interest rate is fixed at under 2% then I think it goes up to around 4% above the bank base rate for the next six years, so could vary going forward.

Does this seem reasonable? Asking because apparently the mortgage is a 'non-regulated product'. My mum hasn't been able to work for some years due to a chronic condition, which is why she seems to only qualify for a BTL mortgage rather than a loan on the house itself.