Quantum Mortgages has added two products to its proposition – a larger loan product, and a first-time landlord option.
The large loan product offers options up to £5m per loan and is available for standard single unit properties (including flats above commercial), houses in multiple occupancy (HMOs) of any size, multi-unit freehold blocks (MUFBs) up to 10 units, and semi-commercial units.
Loan-to-values (LTVs) are up to 75% and the product comes with a 1.99% fee, which is added to the loan without affecting the LTV.
The first-time landlord product offers loans sizes from £250,000 up to £2m and is also available for single unit properties, HMOs of any size and MUFBs of up to 10 units.
Harsha Dahyea, head of sales and distribution at Quantum Mortgages, said: “Most specialist buy-to-let lenders are funded via securitisation which limits the amount of lending that can be done over £1m, leaving just a small handful of banks dominating the large loan market.
“We are therefore delighted to bring some specialism and common-sense lending options to our intermediary partners looking for larger than average loan sizes for their landlord clients.
“First-time landlords are something we are constantly being asked about so despite our core business remaining focused on professional landlords, the demand from our key partners has prompted us to provide an alternative for borrowers making their first steps into property investment.”
