The iPhone app was developed by Mortgages for Business’ head of IT development Mark Ryan and is based on Mortgage Flow, the broker’s in-house buy to let sourcing tool.
TMB managing director David Whittaker said: “The number of downloads confirms our research which showed that landlords were looking for a quick and easy way to access buy to let mortgage rates on the go. From the feedback we have received so far, it seems that landlords find the app useful when they are out and about looking at potential property purchases. In particular they like the fact that the app allows them to play with a number of different financial and property variables to work out the most suitable funding solution.”
In addition to the rate finder, Buy To Let contains a portfolio manager which allows landlords to keep a detailed record of their properties, set mortgage review reminders and link to the best remortgage rates for each property.
Rob Lankey, managing director of Aldermore Commercial, added: “For me, it’s a very handy tool which helps me to keep an eye on the market generally.
"I particularly like the way you can drill down to find the best rates for more complex propositions such as HMO properties and limited company applications.
"You can even enter your own portfolio details. It just shows the depth of understanding that Mortgages for Business has for experienced landlords as well as part time investors.”
The app is available for download free from the App Store - simply search for Buy To Let. Mortgages for Business has also created two accompanying demonstration videos to talk users through both the rate search function and the portfolio manager. These can be found on YouTube and the Mortgages for Businesss website.
