The Cambridge Building Society has increased the maximum loan-to-value (LTV) of its buy-to-let range from 75% to 80% to help landlords buy rental properties in England and Wales.
Top Slicing is also available to further support landlords.
The products include a 2-year discounted mortgage at 2.74% without application or completion fees, and a 5-year fixed rate at 2.99% with a £199 application fee and £800 completion fee, for new and existing customers, and a 3-year fixed rate at 2.99%, without application or completion fees for existing mortgage customers only.
The Cambridge’s product manager, Dan Barker, said: “This is great news for landlords looking for the opportunity to purchase with a smaller deposit.
“Our rates are also very competitively priced, include fee-free options and the ability to top slice. Plus, as we assess all applications on a case by case basis, we can offer as much flexibility as possible.”
These products are available for landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.
Loans can be considered up to 80% loan to value, between £20,000 and £750,000 and are available for purchases, remortgages, product switches and further advances.
The Cambridge continues to offer both buy-to-let expat and holiday lets, including Airbnb for landlords up to 75% LTV.
The range is available from Thursday, 31st March.
