There’s a 5-year fixed rate at 2.22%. It’s available for landlords with a 60% LTV for those either remortgaging or buying a new property, and comes with a £950 product fee.
Within that total buy-to-let advances rose by 24% to £425m, while following the acquisition of lender Titlestone it increased commercial lending by 105% to £212m.
Homebuyers no long have to wait for a decision – as at any time they can provide details of income, loan/credit card payments and other monthly outgoings.
There are three 2-year fixed rate products, one at 85% LTV at 1.92% with a £995 fee, one at 90% LTV at 1.94% with a £995 fee and one at 95% LTV at 2.99% with no product fee. There’s also 3-year and 5-year fixed rates at 95% LTV at 3.39% with no product fee.
The hub provides lenders with a simplified submission platform to meet PRA’s SS13/16 portfolio landlord underwriting standards. Shawbrook said eTech looks to make portfolio underwriting more straightforward and increasingly standardised.
Once these proposals around rent stabilisation and control are complete, if it is the case that Mayor doesn’t have the requisite powers, he will campaign and lobby for them to be implemented by national government.
F1 is for existing and new landlord clients with a predominantly clean credit history financing less complex property types.
RentalStep said its premium model offers landlords a range of benefits that would cost significantly more if provided by a letting agency.
The lender has cut half of the initial residential rates, as they now start from 2.94% for 2-year fixed and 3.54% for 5-year.