Bridge Invest provided a Decision in Principle and instructed valuers and solicitors on the same day as the enquiry.
There are currently 2,396 product on the market, a 21% increase on the 1,929 available in June last year.
The Octane Capital Cup was hosted by the lender on Wednesday 5 June with 24 teams of Octane’s key intermediary partners competing for the trophy at Powerleague Wembley.
The product, for portfolio landlords, limited companies and individuals, is available at 3.59% up to 65% LTV and 3.89% up to 75% LTV and comes with a fee of £2,995 with stepped ERCs from 5% down to 1%. It comes with a free standard valuation and £250 cashback upon completion.
David Smith, policy director for the Residential Landlords Association, said the RLA warned ministers that this would happen but they have not listened.
It’s ‘Moving Matters’ report funded by the Nuffield Foundation, showed the number of young people (aged 25-34) starting a new job and moving home in the last year has fallen from 30,000 in 1997 to 18,000 in 2018.
In its residential range for purchases and remortgages there are two 5-year fixes, both with a £999 product fee, one at 60% LTV will be cut from 1.81% to 1.79%, the other at 75% will be reduced from 1.96% to 1.88%.
The report said that landlords should lose their power to evict a tenant who has not broken the terms of the tenancy agreement for the first three years of the tenancy agreement, and should have to provide grounds for eviction after that point.
The study proposed making buy-to-let landlords show that their existing income is sufficient to cover mortgage costs rather than stress testing based on rental income. It also said mortgage interest relief should be scrapped.