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Brightstar launches BTL exclusives

by: Julia Rampen
  • 10/04/2012
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Brightstar launches BTL exclusives
Specialist Brightstar, in association with Saffron Building Society, has released two exclusive deals for its buy-to-let range.

The higher deal, the 80% LTV product, comes with a 5.25% discount for the first three years. The loan excludes flats, maisonettes and ex-council flats.

The 70% deal includes a 4.75% discount for the first three years and excludes flats and maisonettes.

For both deals, the arrangement fee is 2%, the completion fee is £30, the administration fee £299 and the procurement fee 0.35%, capped at £1000. Neither deal requires an early repayment charge.

Kit Thompson, the director of Brightstar, said that the deals aimed to address a need for higher LTV rates on BTL products and penalty free deals.

He predicted a flat property market for 2012 but suggested that the rental market would be “buoyant” and the short-term lending sector “ever more proactive”.

However, he said that there were opportunities for good brokers to thrive.

In March, Saffron Building Society announced that it had lent £751m of mortgages, a 10% rise from 2010.

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