A note on the lender’s website reads: “Our buy-to-let products are taking a break, but don’t worry, they’ll be back in the New Year.”
The bank is targeting businesses and investors looking to acquire or refinance commercial property investments and mixed use or owner-occupied commercial premises.
Before that he was project manager for The Mortgage Agency, subsidiary of the now defunct Mornington Building Society, and IT/project manager for Bradford & Bingley/Mortgage Express.
The deal involved legal teams in the UK, France and Switzerland, which is where the client lives.
L&G said it wants to raise awareness of the importance of IP in protecting a client’s lifestyle and income.
At the same time the lender has launched 80% loan-to-value mortgages, which are a 2-year fix at 3.45% and a 5-year fix at 3.61%, both to 80% LTV with a £1,995 fee..
The market has come a long way, but there are challenges for it to overcome to continue growing.
That is according to Yolande Barnes, professor of real estate at Bartless Real Estate Institute, UCL, who spoke at UK Finance’s annual mortgage conference this week.
The lender, led by chief executive Chris Fairfax (pictured), started doing business with a handful of brokers as well as sister company and packager Positive Lending.