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Prestige Finance launches second charge buy-to-let range

  • 21/05/2015
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Prestige Finance launches second charge buy-to-let range
Second charge specialist Prestige Finance has launched a range of buy-to-let products for amateur and professional landlords.

The products have been developed using feedback from its key partners and clients who said they were unable to release equity without having to restructure their main portfolio and existing buy-to-let mortgage.

Under the professional landlord product, which allows three or more properties in a portfolio, rates are available from 5.79% on loans up to 75% loan to value (LTV). Loans start from £25,000 up to a maximum of £1m per property.

Its standard buy-to-let product for fewer than three properties in a portfolio, offers rates from 6.99% on loans up to 75% LTV. Loans start at the same amount as Prestige’s professional product but are available at a maximum of £200,000 per property.

Darrell Walker, head of product and new business, Prestige Finance, said: “We’re very pleased to launch our completely new range of buy-to-let products. It couldn’t have been achieved without the valuable and extensive insight of our broker partners, who have helped us to create such a strong proposition for property investors.”

“They told us a large number of their portfolio clients were unable to release equity without disturbing their main headline rate. Also the high rates available would often be the stumbling block for landlords currently benefiting from historic tracker products. We’ve listened to broker feedback and utilised the specialist lending expertise of our parent group, OneSavings Bank, to create a genuine market leading product range.”

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