Category: Buy-to-let
The money will support measures including local radio ads, roadshows and workshops with landlords to raise awareness of the rules.
With the private rented sector (PRS) accounting for 4.4 million households in England, the cost of living for many renters has worsened.
The deal includes a free valuation and no application fee, and has a maximum loan amount of £1m up to 75% loan-to-value (LTV).
The products cover residential and mixed-use properties, up to a maximum of 30% commercial use for a property.
The survey of over 600 landlords by BVA BDRC showed that, excluding those who were unsure, 69% of landlords reported increasing levels of demand, with over a third (36%) stating the increase was significant.
This is available across the society’s standard BTL range, and includes 2-year discounted and 5-year fixed rates.
Emma Hollingworth, distribution director at MPowered Mortgages, said: “We’re delighted to be launching with Abacus Funding today, and look forward to supporting their members.”
The two products are being offered at a discount to the lender’s core range of five fixed rate products in terms of rates and fees.
The SFC Solo brand allows advisers to trade independently but with the credibility and protective infrastructure provided by a directly authorised firm.
Following the referral, TLE where will take full responsibility for completing the fact find; sourcing; advice and recommendation; and then package the deal through to completion.