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Our lowest ever buy-to-let rate launched after broker feedback

20 March 2018

We have lowered the rates on our range of buy-to-let mortgages and simplified the process for brokers when submitting portfolio landlord cases.

We have cut rates to 5.99 per cent – our lowest ever - for our prime capital repayment customers at under 65 per cent loan-to-value (LTV) and to 6.49 per cent for those with higher LTVs.

There have also been reductions for customers making interest-only repayments, with a new rate of 6.49 below 65 per cent LTV, and 6.99 per cent for LTVs of 65 per cent or more.

The buy-to-let sector has undergone major changes in the past few years through the introduction of new PRA rules on underwriting of portfolio landlord cases and tax changes, creating a more challenging landscape for investors, brokers and lenders.

However, we have signalled our commitment to the buy-to-let market by making it as easy as possible for brokers whose customers are looking to finance their buy-to-let properties, by simplifying and improving our processes.

Following feedback from trusted intermediaries, we have moved all portfolio landlord cases onto our standard product, making it easier for brokers to source the best products through our online portal, My Broker Venue (MBV). In addition, we are one of the few UK finance providers to have no restriction in overall portfolio value or volume.

Marc Goldberg, our commercial CEO, said: “As one of the UK’s leading buy-to-let specialist lenders we are committed to supporting landlords looking to grow their portfolios in a more ‘professional’ era for the market.

“We’ve listened to the brokers we work closely alongside and, using our philosophy of common sense lending, have lowered our rates and simplified the process for intermediaries submitting portfolio landlord cases. This will create a more straightforward mortgage process and give brokers the confidence that the application will go through with no issues.”

The rate and process changes are among a raft of improvements to our buy-to-let products. We have also increased LTVs to 60 per cent for loans up to £2 million.

Our flexible first and second charge products can be secured on one or several properties, from standard houses and flats to ex-council properties and those of non-standard construction. We will also take into account a customer’s income so applications may proceed even if rental payments do not satisfy the ICR requirements.

In addition, the interest-only maximum term has been increased to 30 years to align to capital repayment maximum loan terms and rates for second charge loans have been reduced in line with our first charge buy-to-let mortgages.


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