Product of the week: Exclusive market leading buy to let rates

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As we have regularly reported in our market analyses, the buy to let (BTL) investment market has been subject to a number of challenges in recent years. In January, the Prudential Regulation Authority implemented new rules, making it harder for investors to prove affordability which has resulted in a reduction of the amount they are able to borrow. Furthermore, these changes have made it harder for existing investors to release equity for further investment.

As such, we have seen a number of lenders evolve with the current market, updating the way in which they assess affordability in order to assist investors and encourage activity in the market.

At Enness, we have access to the best rates on the market and this week is no different. We are working exclusively with a lender who is trialling a new way of underwriting their BTL mortgages. The new method will allow applicants to use their personal income as a means of supporting their BTL mortgage and affordability can be assed for up to two applicants, providing they live at the same address and does not support guarantor mortgages.

The market leading buy to let rates for this product are:

Loan sizes up to £500,000Loan sizes from £500,000 to £750,000
2-year fixed rate

–       60% LTV

o    Rate of 2.09%

–       70% LTV

o    Rate of 2.49%

–       £999 product fee

 

2-year fixed rate

–       60% LTV

o    Rate of 2.34%

–       70% LTV

o    Rate of 2.74%

–       £999 product fee

 

5-year fixed rate

–       60% LTV

o    Rate of 2.85%

–       70% LTV

o    Rate of 3.25%

–       £999 product fee

 

5-year fixed rate

–       60% LTV

o    Rate of 3.10%

–       70% LTV

o    Rate of 3.50%

–       £999 product fee

 

This product takes into account a borrower’s traditional income, as well as the stressed BTL income, at a rate which undercuts market leaders. This means people can borrow more against their BTL property, at market leading rates.

To speak to one of our expert brokers about how to maximise your BTL borrowing, get in touch with us and we would be delighted to speak to you about these exclusive rates.

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