Three key players in the buy to let market have made updates to their product ranges.
The new mortgage range will offer LTVs of up to 80%. Standard rates will apply from 3.14% for a two-year fix at 70% LTV.
To support these new customers, Kensington will introduce a simpler process for portfolio verification.
The change is part of a wider review of the lender’s mortgage proposition, which includes higher LTVs and loan values across its residential mortgage and buy to let ranges. The new products will be available from 17 May 2018.
Meanwhile, Metro Bank has refreshed its professional buy-to-let product range, available for customers with a maximum of 25 properties with Metro Bank.
A two or five year tracker buy to let mortgage at 75% LTV now has an initial interest rate of 3.54%. A two year fix comes with a rate of 3.84%, and a five-year fix 4.09%. This range is available to limited companies, LLPs and professional individual investors.
Elsewhere, specialist lending brand Keystone Property Finance has reduced all rates in its Classic Range.
Pricing now starts at just 3.19% for a two year fixed rate at 65% LTV. This product is available on standard buy to let property. The range also includes options at 75% and 80% LTV, as well as rates designed specifically for HMOs, multi-unit blocks and for landlords with light adverse credit.
All rates within the range are available to both individuals and limited companies. Unlike most other lenders, Keystone accepts trading limited companies as well as SPVs as standard and does not take a floating charge or debenture.
For more information on any of the rates highlighted in this news article please call Mortgages for Business today on 0345 345 6788.
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Buy to Let Calculator & Rate Finder
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Property Portfolio Spreadsheet
A downloadable form designed to capture all the residential property portfolio information lenders will require to assess a buy to let mortgage application from portfolio landlords (those with four or more mortgaged properties)