KRFI launches limited edition products; Metro Bank removes rental income cap
Two specialist lenders, Kent Reliance for Intermediaries (KRFI) and Metro Bank, have announced buy-to-let product updates aimed at providing greater flexibility and support for landlords.
KRFI, part of the OSB Group, has introduced two limited edition product ranges, focusing on offering lower fees and reduced interest rates.
The first range includes fixed fee options starting at £799, designed to make borrowing more affordable for landlords looking to avoid higher upfront costs. This range offers two- and five-year fixed rate products at up to 80% loan-to-value (LTV), with loans available between £100,000 and £750,000.
The second range targets landlords prioritising lower monthly repayments with interest rates starting at 3.99%. Available across LTV bands from 55% to 75%, this option is also open for two- and five-year fixed rate terms.
“Following changes to the Bank of England base rate and current marketplace conditions, we are pleased to launch these limited edition products,” said Adrian Moloney (pictured left), group intermediary director at OSB Group. “We are only too aware of the more complex landscape that landlords are facing and want to ensure we are supporting brokers and their customers as best we can.
“With our ears close to the ground, we know landlords’ requirements can differ, and this is sometimes down to the location of their property portfolios. For those with properties across London and the South East, our range with lower rates could be the ideal financial solution. However, landlords across the Midlands and the North of England might feel the range with lower fees are more suited their requirements.”
Meanwhile, Metro Bank has removed its maximum annual rental income cap of £100,000 across its entire buy-to-let product range – a change that offers more flexibility to landlords with higher rental income properties, particularly in premium markets.
As part of the update, Metro Bank will now accept Common Law Tenancies with rental incomes exceeding £100,000, provided the tenancy term does not exceed 12 months.
“Metro Bank is committed to the buy-to-let market and to being the number one specialist lender on the high street,” said Charles Morley (pictured right), director of mortgage distribution at Metro Bank. “Removing annual rental limits for rented properties means that we can continue to support landlords across the country.”
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