Mortgage lender relaxes BTL LTVs and portfolio criteria

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The mortgage lender has raised its maximum loan amount for multi-unit blocks and new construction, and has removed loan-to-value restrictions on global loans up to £ 5million.

The specialist lender has said it will now lend up to £ 3million for a MUB property at 70% of the loan value and £ 2million for a new property at 70% LTV.

It also removed LTV restrictions on global loans with a maximum loan amount of £ 5million on an owner’s wallet.

It has lifted exposure limits on apartment blocks and will now consider lending on all units in a block of four from its previous limit of two.

Mortgage Lender Sales and Product Manager Steve Griffiths said: “The latest changes to our buy-to-lease lineup responds to a dynamic and competitive market where homeowners want to add to their portfolios and diversify into types of properties and locations where they see an opportunity.

“By increasing our maximum lending and taking a portfolio view on risk, we are able to provide lending options to help brokers and their owners grow their businesses. “

Earlier this month, the company reduced the rates for its five-year limited edition rental products and expanded the line by adding multi-occupancy homes and multi-unit blocks to the offering.

Its limited-edition five-year fixed rate of 75% of the value of the loan to value for individual applicants and limited companies drops from 3.31 percent to 3.2 percent.

The new multi-occupancy / MUB five-year fixed home product has an initial rate of 3.58% to 75% of the loan value.


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