Category: Buy-to-let

Saffron Building Society has enhanced its range of limited company buy-to-let mortgages.

Other search highlights include ‘payday loan’ which featured for the first time in the second charge sector and interest-only.

The research also suggests that 69% of landlords intend to fund their next portfolio purchase with a traditional BTL mortgage.

The solution hopes to enable lenders to process mortgage applications more efficiently.

The Advanced Rent Option (ARO) is set to launch in late August.

Over half (51%) of landlords argued that both measures to be addressed in order to help build greater confidence in the sector.

Additionally Paragon has increased procuration fees on switch products from 0.25% to 0.30%. Further advance proc fees remain at 0.50%.

Research found that whilst just 14% of landlords are seeking to purchase property over the next 12 months, over half of those (55%) will do so via a limited company.

This comes after previous research found that the number of false applications being detected had seen a year-on-year increase of 117% in 2019.

David Smith, policy director for the Residential Landlords Association, said the “figures show that the market is working”.