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Pepper and Landbay launch limited edition BTL products and higher LTVs

  • 14/04/2021
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Pepper and Landbay launch limited edition BTL products and higher LTVs
Pepper Money has launched the limited edition Pepper 60 buy to let mortgage for those with no county court judgements (CCJs), missed secured payments or defaults within the past 60 months.


The product is available up to 75 per cent loan to value (LTV), with a five-year fixed rate at 3.18 per cent.

The minimum income requirement was cut to £18,000 for individuals buying in their own name, down from £30,000. Minimum income remained at £30,000 for limited companies. 

Pepper has also increased the maximum LTV to 80 per cent on its Pepper 36 and Pepper 36 Light buy-to-let mortgages.

The lender further expanded its buy-to-let range with a five-year fixed rate at 4.65 per cent on the Pepper 24 Light mortgage.

Pepper’s buy-to-let mortgages are all available to customers buying in their own name and to limited companies.

“Buy to let is a big opportunity for advisers this year, with ongoing demand from investors purchasing new properties and a wave of potential remortgage business,” said Paul Adams, sales director at Pepper Money.

“We wanted to make it easier for advisers to make the most of this opportunity, so we’ve made a number of important enhancements — including introducing one of the lowest-ever rates on our limited edition products,” he said.


Landbay adds flexibility

Landbay has made a series of changes to its buy-to-let products including lowering the minimum property value to £65,000 on its core products, down from £75,000.

The aim is to appeal to landlords investing in parts of northern England and Wales, it said.

The lender has also cut the rate was cut  on the recently-launched non-portfolio landlord five-year fixed rate by five basis points to 3.39 per cent.

It has also raised the maximum LTV to 75 per cent for properties above commercial units, up from 70 per cent, and increased the maximum loan size in its special edition range to £1.5m from £1m.

“We’ve seen landlords in the South venturing further afield and buying less expensive properties in the North where yields are higher” said Paul Brett, managing director, Intermediaries at Landbay.

“And with the pandemic showing remote working can be effective, we may see more landlords invest in properties away from their local area.

“The added flexibility in our range will support this expansion,” he added.


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