85% Loan-to-Value is back

Kensington Mortgages released the first ever 85% product back in the market place this week and got a lot of people excited

 

Santander has confirmed that they are seriously looking at lending to landlords this year, and Yorkshire Building Society on the back of a merger with Chelsea Building Society are looking to move in the market by the middle of this year…

We may see banks itching to lend with their large piles of cash sooner than you think!

Paragon Mortgages are now offering landlords a two year tracker starting at 3.30% and a 3 year tracker at 3.60%…The fixed rate products for 2 years plus start at 4.25%

The Mortgage Works (TMW) are offering a 2 yr tracker @ 70% LTV with a 3.5% arrangement fee and a rental income of 125% @ 4.99%..They do not require a personal income or proof of income..

Tracker products clients have the ability to change and switch to fixed rate product anytime with no penalty & they also have a range of products for first time landlords, but the landlord MUST be a residential home owner..

BM Solutions are offering a 4.2% 1 yr tracker product with a 2.5% arrangement fee, GBP 500 cash back and a refund of valuation upon completion. BMS now have a restriction of 3 BTL properties and a lending cap of 2 million across the whole of the Lloyds TSB group which doesn't tend to make it favourable for the existing portfolio client, however for those that don't their range is competitively priced and the 4.2% tracker quoted above has a competitive rental calculation of 125% at 4.2%

Cambridge BS could be a option for those landlords who have properties in the south of England..as they have 2 products the lowest being a 3.99% 2 year tracker with a 3.5% fee, using the pay rate at 135%.

However they require applications to be submitted by paper and lending is restricted to certain southeast regions;

Platform Mortgages have largely made their products more attractive for landlords this month, offering fantastic fixed and tracker mortgages up to a maximum of 75% LTV…

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