Complex Buy To Let
Loughborough BS launches family BTL mortgage with top-slicing
Loughborough Building Society has introduced a buy-to-let (BTL) mortgage for landlords who want to rent to family members.
This launch comes in response to the feedback from its intermediary panel.
The re-mortgage and purchase product is available at up to 80% loan-to-value (LTV) and rental coverage is calculated as per standard BTL.
In circumstances where the rental income is insufficient and the applicant’s personal income is required, a top slicing approach will be used.
Business development manager at Loughborough BS, Ashley Pearson (pictured), said that he is pleased about the launch of this lending solution.
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He added: “As our proposition continues to grow, we feel it’s important to listen to our panel partners and this is further evidence of our ability to find solutions for them.”
Last month the lender extended its BTL proposition launching two-, three- and five-year rates, also available up to 80% LTV.