Dragonfly Property Finance has expanded its buy-to-let range with a 2-year loan at a rate of 6.99%.
The arrangement fee on the new 2-year buy-to-let product remains at 2.5% and the minimum loan size is £50,000, up to a maximum of £1.5m.
The new product allows borrowers to defer 2% of the interest to be paid on redemption of the loan, reducing the rate to 4.99%
D’mitri Zaprzala, head of sales at Dragonfly Property Finance, said: “Securing a buy-to-let mortgage from a high street lender is becoming harder by the day, especially for non-standard landlords. But this is a lending gap we are more than happy to fill.
“At Dragonfly, we pride ourselves on being able to take a view on individual borrowers, however unusual their circumstances or requirements. We don’t box tick but look at each application on its merit and make a decision based on that. At a time when mainstream lenders are tightening their buy-to-let criteria, we are open for business and this latest product launch will hopefully make that very clear to brokers.”