These are available to landlords, including those who operate under a limited company structure and landlords who own their properties on a personal basis.
Vernon’s products include a five-year discounted rate at 2.49 per cent up to 75 per cent loan to value (LTV) with a £1,499 fee. There is also a two-year discounted rate at 2.99 per cent up to 75 per cent LTV with a £999 fee.
A three-year discounted rate at 3.29 per cent up to 75 per cent LTV with a £999 fee is also available to both individual and limited company landlords.
A limited company landlord five-year discounted rate at 2.49 per cent up to 75 per cent LTV with a £1,499 fee is available and a limited company two-year discounted rate at 2.99 per cent up to 75 per cent LTV with a £999 fee.
Enhanced criteria
The lender has also enhanced its criteria to support more landlords. It now lends to landlords with no minimum income requirement and has extended its maximum age at the end of term to 80.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “We’ve boosted our buy-to-let product range to meet demand.
“And we’ve updated our lending criteria to support a wider range of landlords, whether they’re first-time buyers or seasoned professionals with their portfolio held in a limited company structure.
“We’ve listened carefully to brokers and added these products to meet the needs of your clients. Our practical approach to underwriting means we’ll treat each case individually and look for ways to say yes where possible.”
Vernon’s buy-to-let mortgages are also now available to non-owner occupiers, first-time landlords and first-time buyers on an individual and limited company basis, as well as on let-to-buy applications.
Caroline Shard, business development manager at Vernon Building Society, said: “We listen carefully to what brokers can tell us, so we can adapt our products and service to meet their needs.
“They regularly tell us that criteria and service are just as important as rate when it comes to finding the right fit for their landlord clients. That’s why we’ve updated our buy-to-let criteria as well as boosted our product range to support more landlords.”
