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Specialist buy-to-let lenders energise winter market – Ying Tan

by: Ying Tan, founder and chief executive, Dynamo
  • 13/12/2019
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Specialist buy-to-let lenders energise winter market – Ying Tan
The emergence of specialist lenders has served to reinvigorate the buy-to-let marketplace in recent times.


Intermediaries now have access to a wider variety of flexible, innovative and competitive products – backed by highly professional service standards – to meet the ever-changing needs of their landlord clients. And November has seen little let-up in these activity levels.

In fact, you could go so far as to say that specialist lenders have been on fire over the past few weeks with a crescendo of product overhauls, enhancements and extensions into new markets.

LendInvest has extended its buy-to-let mortgage offering into Scotland. Borrowers in Scotland can access a £750 legal fee cashback on five-year buy-to-let fixes up to 75 per cent loan-to-value.

Vida Homeloans overhauled its residential and buy-to-let product ranges by reducing rates and making criteria changes. On its buy-to-let range, it has reduced rates for first-time buyers/first-time landlords, loans over £1m, Houses in Multiple Occupation (HMO) and Multi Unit Blocks.

Vida has also removed its previous cap of 100 properties per portfolio. For self-funding buy-to-let landlords, it has reduced income and employment verification.


Paragon, Aldermore and Foundation

Paragon has launched a range of buy-to-let purchase and remortgage products for portfolio and non-portfolio landlords.

Rates discounted for two and five years are available from 2.65 per cent at 75 per cent loan to value (LTV) for individuals, limited companies and limited liability partnerships.

For HMOs at 75 per cent LTV, there is a two-year discounted variable rate mortgage at 2.80 per cent.

There are two discounted products available to non-portfolio landlords at 75 per cent LTV – a two-year discounted variable rate mortgage at 2.65 per cent and a five-year discounted variable rate mortgage at 2.95 per cent. Both come with no application fee and free valuation.

Aldermore has launched a five-year fixed remortgage product for individual and company landlords with single residential investment properties. The product is available at 75 per cent LTV and has an initial rate of 3.68 per cent.

There are no valuation or fund transfer fees and multiple securities can be processed on one application. The product comes with a £1,999 product fee.

Finally, Foundation Home Loans has reduced rates across its range of two-year buy to-let fixed rate products.

For individual borrowers and limited company applicants, there are two two-year fixed rates at 75 per cent LTV. One offering has seen its rate drop from 3.05 per cent to 2.69 per cent, whilst its HMO deal is now available from 2.89 per cent.

As you can appreciate from this raft of activity, specialist lenders continue to provide the heartbeat of the buy-to-let sector in terms of driving good quality business through intermediary channels, and long may this continue.


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