The range will be limited to properties situated in London and the South East and the target market will be professional landlords, limited companies, HMOs and ex-pats.
Axis Bank UK, the UK subsidiary of India’s third largest private sector bank, is planning to launch the range before the end of March but was not able to confirm its distribution arrangements at this time.
Head of buy-to-let mortgages Andrew Ferguson said the range of products will include two, three and five-year products up to 75% loan-to-value.
“We aim to make it easy for our broker partners to do business with us through a blend of technology and human interaction ensuring each case is assessed individually. Access to key decision makers will be available when required so we can work closely with our partners and deliver a service they value.”
Interest in the specialist buy-to-let market has been hotting up since the start of the year with Fleet Mortgages, headed up by ex-CHL Mortgages MD Bob Young, entering the sector in January.
Last week, Mortgage Solutions revealed the State Bank of India confirmed it was set to distribute its buy-to-let mortgages through intermediaries while Foundation Home Loans has announced it will open its doors for buy-to-let business before the end of February.
