I am thinking of investing in property and was looking at what sort of mortgage product I could get and what sort of interest rate to expect. There are a number of lenders I have found whose names I have not heard of before. Are these lenders okay to use or should I go with one I have heard of?
Most buy to let lenders are not high street names and cannot be accessed directly by borrowers which may be why you haven’t heard of many of them. Buy to let lenders operate via intermediaries (brokers) in order to control product distribution. As long as you use a reputable broker, it shouldn’t matter whether or not you’ve heard of a particular lender. Currently there are around 31 active lenders (plus a few more with extremely niche offerings). Some of these lenders are actually owned by some of the larger financial institutions.
1st January 0001