The bank, distributing through its broker network, is offering the Cambridge & Counties Residential Investment Loan from 4.50% and will lend up to 70% LTV interest-only for a maximum 10-year term, or up to 25-years for repayment.
The bank will lend up to 70% of the lower of either the Market Value or purchase price of the property. The loan is available for property investment via purchase and/or refinance.
Gary Wilkinson, chief executive, Cambridge & Counties Bank said: “We have enjoyed a successful launch, and entering the residential lending market is the latest example of our continued growth. Not only does this proposition support businesses looking to invest in property, thereby benefiting business development and growth within the economy, it will also help bring more housing onto the market and aid the current housing shortage. There is a lot of competition in this sector, but by offering a competitive rate, coupled with our commitment to providing a quality service, we are confident our proposition will be well received.”
The Cambridge & Counties Residential Investment Loan will be distributed through its business development managers covering Leicester, Northamptonshire and Cambridgeshire and also nationally through its network.
The bank, jointly-owned by Cambridgeshire Local Government Pension Fund and Trinity Hall, a College of the University of Cambridge also offers commercial loans and a deposit account for the retail and non-retail sectors.
