Mortgages for Business pilots new lender
The pilot will run until 27 April, after which the bank will open its doors through a panel of specialist intermediaries.
Axis Bank, which is targeting experienced landlords with standard and specialist ranges, is pricing its rates at 3.79% for a 75% LTV 2-year fix with a fee of 1.5%.
Steve Olejnik, sales director at specialist broker Mortgages for Business, said: “We’ve been working closely with Axis in the run up to launch and I must say I’m very impressed with its new online submission platform.
“It’s easy to use and should help to make application processing pretty smooth. In addition to standard buy0to-lets, it has been designed to handle more complex propositions including limited companies and HMOs.”
“The decision-making process will be quick and pragmatic too with all cases being assessed and negotiated individually. I think that brokers are going to be impressed with the attention to detail and level of customer service.”
The lender, which has no minimum income requirements, is offering loans up to £1m.
Axis caters for limited companies and expat landlords, HMOs up to six beds and multi-unit freeholds up to five units.
During the pilot brokers are encouraged to contact the deal placement team at Mortgages for Business to get more detailed information and to talk through pricing options.