All intermediaries across England and Wales can now access the product
Specialist lender MT Finance has announced that it is making its buy-to-let product available to all intermediaries across England and Wales.
Having previously partnered with a select number of brokers in July 2022, MT Finance has now extended the availability of its BTL product across the market.
Joshua Elash (pictured), founding director at MT Finance, commented: “We are excited to roll out our BTL proposition to the wider intermediary market, enabling us to continue developing our core objective of being an ESG-focused, multi-solution, financial institution.
“Brokers know they can rely on us as we have an extensive track record of delivering certainty of funding efficiently, and in this market, where volatility is all too common, that is more important than ever.”
Sitting alongside the company’s unregulated and regulated bridging products, the lender said its move into the BTL space marked the beginning of a new chapter in its nearly 15-year history.
Targeted at landlords and investors, the BTL proposition’s key features include:
- Interest Cover Ratio (ICR) stress testing from 125%
- Minimum unit size of 28 square metres
- Applications accepted from trading companies, first-time buyers, first-time landlords, and those with adverse credit
- Lending to expats at up to 65% loan-to-value (LTV)
- Residential and semi-commercial properties included
- Holiday lets with an assured short-hold tenancy (AST) income included
- Ex-local authority properties at up to 70% LTV, including those with balcony and deck access, subject to an acceptable valuation
Marylen Edwards, head of buy-to-let lending at MT Finance, added that brokers were central to their business, and that they worked hard to meet their expectations.
“We are determined to be known for being clear and transparent, offering an excellent service, and being able to give a ‘yes’ or ‘no’ without prolonging the process unnecessarily,” she stated.
“These are tough times for landlords, but the BTL market has proven to be resilient, and we believe our proposition will assist brokers looking for alternative options for their clients.”
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