Loughborough Building Society has recently refreshed their BTL proposition incorporating feedback from brokers and customers.
The Leicestershire based lender has seen significant growth in the past few years and has looked to provide solutions for a variety of different applicants. Their latest Buy to Let range includes:
Holiday Let
Available for the purchase or re-mortgage of properties in England and Wales that are used for short term holiday letting including Air BnB. At 75% LTV, their current product is a two year Fixed Rate at 3.29% with a £499 completion fee.
Family BTL
Fixed and discounted rates are available for the purchase or re-mortgage of properties in England and Wales that are rented out to close family members. At 80% LTV, SVR discounted rates start at 3.24% for three years with free standard valuation and no completion fee.
Business and Consumer BTL
Fixed and discounted rates are available for the purchase or re-mortgage of properties in England and Wales, including for first-time buyers and first-time landlords. At 80% LTV, SVR discounted rates start at 2.79% for two years with free standard valuation and no completion fee.
Let To Buy
We’ve seen an increasing number of applicants who want to secure their next residential home while retaining their existing property. Not only does this allow them to potentially benefit from rental income in the future and release funds up to 80% LTV for the deposit on their next residential, it also puts them in a position with nothing to sell when searching in a competitive housing market with limited stock levels.
Ashley Pearson, national BDM at The Loughborough, said: “I really like our BTL proposition, the fact we offer Family BTL and Holiday Let, both with fixed rates, and allow First Time Buyers up to 80% LTV enables us to provide solutions for even more investors”.
All products quoted are subject to Early Repayment Charges.
