The lender cites high street banks’ over-reliance on automated application answer systems as the driving force behind its decision.
The Walsall-based company has introduced over 100 products, with loans available from £25,000 to £10,000,000, LTVs up to 75% and rates from 1.99% above the Bank of England Base Rate.
The portfolio includes refinancing, purchasing or capital raising options, and are open to first-time landlords, multiple property owners and limited companies. Start-up, self-certification and adverse credit applications will all be considered.
Roger Dewsbery, senior underwriter at Crystal Mortgages, said: “High street banks have become hugely over-reliant on automated answering systems, and not only is the criteria so stringent that most applications are declined on the spot, there is no room for appeal.
“We know that there are thousands upon thousands of good buy-to-let owners who are being restrained financially, and we will guarantee that all applications that come into our business are looked at by an experienced adviser and will be considered thoroughly on its merit.
“The buy-to-let market is booming and we want to assist where we possibly can.”
Crystal Mortgages recently reported a record start to 2011, with the business issuing terms on over £69m worth of business and completions up 86% from January to March.
The figures, which compare against the same period in 2010, show new business levels increased by 56% with commission paid out to introducers up by 60%.
