London Credit launches hybrid buy-to-let deal

  • 27/06/2024
  • 0
London Credit launches hybrid buy-to-let deal
Bridging lender London Credit has brought out a hybrid buy-to-let product to “help property investors to ride out a period of uncertainty in the market”.

The hybrid buy-to-let product will have a term of two years and allows investors to service a portion of the loan while the remaining interest is retained and payable on redemption.

The hybrid buy-to-let deal is eligible for residential and semi-commercial property up to a maximum loan to value (LTV) of 70% of redemption and borrowers can exit the loan without penalty after six months.

Marios Theophanous (pictured), credit manager at London Credit, said: “We’ve been asked by a number of brokers to develop something to help their clients to navigate immediate uncertainty in the buy-to-let market and this new product, which enables a hybrid of serviced and retained interest, does just that.

“The product is available for a term of two years, but borrowers can exit it without penalty after just six months, providing them with the flexibility they need to respond to market changes as they choose.

“We think that this product will empower investors to take control of their investment and make longer term decisions at the right time.”

London Credit recently increased the maximum loan to value (LTV) to 75% from 70%.

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