Category: Buy-to-let
General insurance provider Berkeley Alexander has agreed a deal with Hanley Economic Building Society.
Recent rental income tax changes have made buy-to-let investments more expensive for higher-rate taxpayers.
The proposition includes a bridging product with rates from 0.54% per month, followed by an exit onto a long-term buy-to-let mortgage,
Mortgage search volumes have dropped by 3.9% week-on-week, according to data collected by Twenty7Tec.
As part of the agreement, MT Finance’s light and heavy refurb, BTL purchase, and business investment offerings will be available through the platform.
For first-time buyer, house purchase and shared equity, the 75% LTV 5-year fix has been reduced by 0.1% to 2.09%.
A majority (82%) of tenants feel that they have security over tenure in their rental homes and 71% are happy with their rented home.
The product is only available for buy-to-let and the minimum loan amount is £1m, with the maximum being set at £15m.
The changes will be effective from 24 November.
In addition, the maximum loan size for residential loans has been upped to £1m.