This is a 25 per cent reduction on the initial charging rate on the first property and means that brokers who have previously had difficulty meeting the usual 100-110 per cent rental coverage can now offer their clients an excellent and very competitive deal. Rates start from 5.75 per cent for a two-year fixed with no higher lending charge and the addition of including builders deposits up to 15 per cent.
BDS also has a full-time onsite Unity lender underwriter so offers can be issued without the need for head office intervention.
Phil Jay, managing director of BDS, commented: “This is a significant criteria enhancement and puts Unity firmly at the forefront of prime buy-to-let lending. From talking to our brokers and analysing our business, I know that there is still a lot of mileage in the investment market and I expect these deals to fly out of the door.”
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