For those cases where the LTV is 70% or less, an instant mortgage offer can be obtained. And for such cases there will be no rental assessment required.
Julie Gaskin, corporate relations manager said, “ We have combined two breakthrough developments to give the intermediary and packaging distribution market the ability to offer instant mortgage offers now on Buy To Let up to 70% Loan To Value.”
Gaskin continued:“Offering an instant offer means that the professional landlord who knows exactly what they want and how the process works has to spend less time chasing and waiting for their mortgage offer. From feedback from brokers, we believe this will be very well received, especially for remortgage cases and clients who have the larger deposits.
The new range will be available on all products giving borrowers the choice of the full product range offering fixed, discounted and tracker schemes.
Simple Steps to apply for an instant BTL mortgage offer
The process has been kept simple. The brokers obtain a decision and then complete the application form. A successful AVM will enable an instant mortgage offer to be produced from the packager or brokers desk.
Gaskin concluded: “It will speed up the whole process tremendously and will further enhance the reputation of the brokers. We anticipate there will be other lenders jumping onto this very soon as excellent service is crucial to keep up to the pace and demands that borrowers are expecting.”
Product Specifications
No rental assessment required
Available up to 70% LTV
Range of 2, 3 year Fixed Rates, 2 year discounted and 2 tracker products.
Rates start from 5.24% on the direct intermediary range and
Maximum loan size of £250,000
Arrangement fee of £1495
