In the majority of cases, requiring a guarantor is due to the prospective tenant failing an affordability test.
The system helps intermediaries meet PRA underwriting standards for landlords with large-scale property portfolios by allowing them to easily import landlord data easily from multiple spreadsheets.
The 10-year fix range starts at 2.74% to 65% loan-to-value with a £1,995 fee, free standard valuation and £250 cashback, with ERCs for the 10 years.
At the same time the lender has expanded its range of products on offer to existing buy-to-let landlords.
Additionally, the society has reduced the minimum buy-to-let age on application from 25 to 21 years.
Over the course of 2018, demand was lower than last year with an average of 324 house buyers registered per branch, compared to 366 on average throughout 2017.
Private landlords in London earned £7bn from their residential property investments in the year from 5 April 2017 to 2018, making up 20% of the UK’s buy-to-let income, estate agent ludlowthompson has found.
Richard Adams from Stonebridge Group won The Lifetime Achievement Award.
Pepper Money has appointed Martin Brown as head of products.
Loughborough Building Society has launched a 2-year discount, a 3-year fix and a 5-year fixed rate buy-to-let to 80% loan-to-value.