The mortgage club was launched 15 months ago by Surrey brokerage The Buy to Let Business. The club completed just under £200m of buy-to-let business in 2013 and is targeting £500m this year.
Award winning managing director Ying Tan has since decided to rebrand the distributor as a business in its own right.
Tan (pictured) said: “The success of the club has really surpassed all of our expectations. When we launched we knew we could offer something different to brokers but I don’t think any of us expected it to grow so big so fast. We feel now is the right time to rename it to allow it to become a standalone brand.”
Tan said the club has big plans for 2014, including doubling its broker membership from 600 to 1200 and increasing turnover for the club by 150%.
This year buy to let lending could hit £25bn said Tan as talk of interest rates rising fuels remortgage borrowing.
“We have increased headcount and are expanding our buy to let desk and are targeting just three more lenders to complete our lender panel,” he explained.
In January Precise became the 25th lender to join the club’s panel.
The club has also secured some buy-to-let fixed rate exclusives including a 75% LTV fixed with Santander at 3.19%, with a flat arrangement fee of £1495, a free valuation and a £250 cash back, available from 6 March. The club is also offering a five year 75% fixed rate at 3.75% from Hinckley and Rugby with a flat fee of £3750 and a free valuation.
Tan said: “These rates are market leading, catering for the high demand we are experiencing from landlords looking for fixed rates, in the fear base rate will start to rise early next year.”
Over the next 12 months the Buy to Let Club will be holding workshops and road shows up and down the country, with a special focus on niche and specialist products.
Tan added: “This is going to be a very exciting year for Buy to Let Club and indeed the buy-to-let market in general and we are all very excited to get the show on the road.”
For more information on the club, click HERE
