Mortgages for Business has, this afternoon, commenced an exclusive three-week pilot for new intermediary-only buy to let lender, Axis Bank.
The pilot, which is intended to ensure that Axis delivers a positive experience for brokers and landlords, will run until 27th April when the Bank opens its doors to lending via a restricted panel of specialist intermediaries.
Targeting experienced landlords with both a standard and specialist range, the rates are well-priced starting at 3.79% for a 2-year fixed rate to 75% LTV with a fee of 1.5%
Commenting on the pilot, Steve Olejnik, sales director at specialist broker Mortgages for Business said:
“We’ve been working closely with Axis in the run up to launch and I must say I’m very impressed with its new online submission platform. It’s easy to use and should help to make application processing pretty smooth. In addition to standard buy to lets, it has been designed to handle more complex propositions including limited companies and HMOs.”
“The decision-making process will be quick and pragmatic too with all cases being assessed and negotiated individually. I think that landlords will be impressed with the level of customer service.”
Although the rates are competitively priced, it’s the criteria that will really attract investors:
• No minimum income requirements
• Unlimited number of mortgaged properties with other lenders
• Loans up to £1m
• Lending to limited companies and expat landlords
• HMOs up to six beds
• Multi-unit freeholds up to five units
Landlords looking to explore the buy to let borrowing options with Axis are encouraged to contact Mortgages for Business to get more detailed information and to talk through pricing options.