Masthaven has launched a range of new buy-to-let products, as well as cut rates on select offerings.
Notable new products include a 70 per cent LTV two-year fix at 3.63 per cent. Complex properties including HMOs with up to ten bedrooms, flats up to 20 floors and retirement properties are considered for this product, according to the lender.
In addition, a 70 per cent LTV two-year fix at 3.89 per cent has been launched. This product caters for Airbnb and holiday lets, as well as the ability to remortgage with less than six months’ ownership.
Reductions include the 75 per cent LTV two-year fix at 3.14 per cent having been cut to 3.09 per cent. This offering considers borrowers with a failed credit score and allows gifted equity from family.
Masthaven managing director of mortgages Matt Andrews comments: “The rental sector has undergone some big changes over the last few years and some landlords and tenants have felt the strain. “In a bid to support the market, we wanted to create a product range that offers brokers access to products that meet market needs.
“We want to offer products that suit UK borrowers. As mortgage requirements change, the industry must offer affordable and flexible options that keep up with modern life.”
Foundation Home Loans launch new 5-year fix for ltd company buy to let
Foundation Home Loans has announced a new five-year fixed rate product available just for buy-to-let limited company applicants.
The new mortgage is available as part of Foundation’s Tier 1 product range, available to those limited company borrowers with a near-perfect credit record, and can be accessed by first-time landlords, non-portfolio and portfolio landlords.
The five-year fix is priced at 3.35% up to 75% LTV until the 31st July 2024, with a maximum loan available up to £1m and the product comes with a £2,495 product fee with a rental income calculation of 125% at pay rate. There is no maximum age limit for limited company applicants. It is available through Foundation’s distributor network including all mortgage clubs, networks and key packagers.
Jeff Knight, Director of Marketing at Foundation Home Loans, said:
“The ongoing move towards greater levels of limited company buy-to-let business is certainly one we are seeing at Foundation. We therefore want to ensure advisers have access to products which will suit the growing number of borrowers seeking purchase and remortgage finance through such vehicles. This 3.35% five-year fix fits neatly into our Tier 1 range and allows us to broaden our offering for those landlord clients seeking longer-term stability for their payments. Our recent research showed the appetite and ambition, particularly of portfolio landlords, to purchase more properties via limited companies and the expertise we have at Foundation should help advisers with such clients to find a product solution which is right for them.”
TFC Homeloans is delighted to announce that we now have an agreement with Twenty7Tec and all products will now be displayed on their sourcing systems.
Advisers using the system will find our first charge, second charge and bridging products under 1APP@TFC, including all of our exclusive products.
Twenty7Tec is certainly making waves in the mortgage market with a large number of directly authorised advisers and networks registered for the system. We are delighted to be partnered with a like minded business - focused on system and people investment.