Catalyst has entered the buy-to-let market with ‘BOOST to let’; a specialist mortgage designed for landlords who fall outside mainstream lending.
Brokers and their clients can expect extreme flexibility on borrower affordability, accepted property, borrower type/credit profile and complex enquiries.
BOOST to let has a 100% Interest Cover Ratio (ICR) plus it allows unlimited top slicing for High-Net-Worth borrowers with £1m+ assets.
Funding is available for unusual and complex property including mixed use to 75% LTV, high value single assets, holiday lets, student lets, low yield assets, ex-local authority, MUFBs with no exposure limits, and HMOs that are unlimited on bedrooms.
Catalyst welcomes a wide range of borrower types including professional, portfolio and first-time landlords.
They lend to individuals, limited companies, LLPs, offshore limited companies, SPVs and Trusts. Ex Pats, foreign nationals from EEA/non-EEA are accepted. There is no minimum income requirement and borrowers can be retired. Clients with adverse credit are also catered for.
Loans are made to 75% LTV including those with cash-out (80% LTC for purchases) and rates start from 3.74%. Catalysts Major Distributor Panel earn 1.50% commission, brokers 1.00% and the arrangement fee is 2.00%.
Chris Fairfax (pictured), CEO at Catalyst, said: “We are excited to launch BOOST to let and bring the Catalyst can-do lending approach to the buy-to-let market.
“We have built a fantastic team of property finance experts who are ready to support our major distributors and brokers with a product that has extremely strong demand.
“Buy-to-let is a natural progression for Catalyst and sits well with our bridging, refurbishment, and development finance ranges. This is not mass market; it is solution driven focussed lending that boosts both borrower eligibility and the brokers ability to help more clients.”
Anna Bennett, marketing director at Catalyst, added: “Reaction to our BOOST to let launch yesterday was fantastic.
“Our New Business Team issued £15.3m in credit backed terms, including buy to let finance for Foreign Nationals, first-time landlords, on Multi Unit Freehold Blocks (MUFB) and semi commercial property.
“We were blown away by the support from our broker partners and look forward to providing them with more sets of competitive terms today!”
