{"id":16988,"date":"2018-05-16T13:14:05","date_gmt":"2018-05-16T12:14:05","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=16988"},"modified":"2023-10-09T15:09:05","modified_gmt":"2023-10-09T14:09:05","slug":"buy-to-let-product-range-expands-as-lenders-compete","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/buy-to-let-product-range-expands-as-lenders-compete\/","title":{"rendered":"Buy-to-let product range\u00a0expands\u00a0as lenders compete\u00a0\u00a0\u00a0"},"content":{"rendered":"

Despite reports of lower mortgage lending levels in March for both residential and buy-to-let mortgages, there was a 0.8% increase in buy-to-let remortgages on the previous year. Whilst recent tax and regulatory changes continue to have an impact on demand, lenders are upping\u00a0the\u00a0ante when it comes to competing for buy-to-let borrowers\u00a0with a range of incentives.\u00a0\u00a0<\/span><\/p>\n

Limited company deals<\/b>\u00a0<\/span><\/p>\n

Capitalising on the increasing number of portfolio landlords who are making the switch to limited\u00a0company status,\u00a0Aldermore Bank has\u00a0reduced rates for limited company landlords\u00a0whilst\u00a0\u00a0<\/span><\/p>\n

Kensington Mortgages have launched\u00a0mortgages for limited company buy-to-let customers at LTVs\u00a0(loan to value)\u00a0up to 80%.\u00a0\u00a0<\/span><\/p>\n

Kensington\u00a0will only assess the property portfolio of the limited company and will be introducing a simpler process for portfolio verification.\u00a0Craig McKinlay,\u00a0sales\u202fand\u202fmarketing director, said:\u00a0\u201cThese latest changes to our mortgage proposition reinforces our commitment to a growing specialist lending market as we open up our range to new customers and provide more flexibility for borrowers with complex incomes\u201d.\u00a0<\/span><\/p>\n

Reducing stress rates\u00a0<\/b>\u00a0<\/span><\/p>\n

Virgin Money has reduced its stress rate\u00a0by 0.24%\u00a0on its\u00a05-year\u00a0fixed buy to let loans to 5%.\u00a0They\u00a0will also consider using personal income to cover rent shortfalls between 100 and 145% of the mortgage payment, as long as landlords meet a minimum income requirement of \u00a350,000.\u00a0<\/span><\/p>\n

New\u00a0<\/b>5-year<\/b>\u00a0fixed rate deals\u00a0<\/b>\u00a0<\/span><\/p>\n

Landbay, Leeds Building Society, Lendinvest, Foundation Homeloans and Paragon Bank have all launched new\u00a05-year\u00a0fixed deals\u00a0in response to many landlords seeking longer-term surety.\u00a0Landbay rates will start at 3.49% and are available on standard residential as well as HMO\/Multi units, and\u00a0Leeds Build Society are offering\u00a05-year\u00a0fixed rates up to 60% LTV with rates starting at 2.19%.\u00a0<\/span><\/p>\n

Cashback deals\u00a0<\/b>\u00a0<\/span><\/p>\n

Paragon Bank are including a free valuation and cashback up to \u00a3500\u00a0for portfolio landlords, and Accord mortgages have added an additional \u00a3250 cashback to 29 of their buy-to-let mortgage products.\u00a0\u00a0<\/span><\/p>\n

Landlords should certainly be capitalising on the increased competition between lenders; in addition to the incentives above borrowers are also able to capitalise on offerings of increased LTVs, reduced rates on existing buy to let mortgage products and zero product, valuation or legal fees.\u00a0\u00a0<\/span><\/p>\n

For landlords that have been biding their time to expand their portfolio or remortgage their current properties, the good news is that the subdued market has not restricted product availability and choice of lender.\u00a0\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite reports of lower mortgage lending levels in March for both residential and buy-to-let mortgages, there was a 0.8% increase in buy-to-let remortgages on the previous year. Whilst recent tax and regulatory changes continue to have an impact on demand, lenders are upping\u00a0the\u00a0ante when it comes to competing for buy-to-let borrowers\u00a0with a range of incentives.\u00a0\u00a0… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":4802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-16988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-mortgages-money"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=16988"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16988\/revisions"}],"predecessor-version":[{"id":6097264,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16988\/revisions\/6097264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4802"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=16988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=16988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=16988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}