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Belvoir Telford has launched a new private rental sector investment scheme, specifically aimed at buy to let investors seeking to invest in the Midlands.
Meanwhile, Foundation Home Loans has launched an incentive package for remortgagers.
Belvoir has teamed up with some major housebuilders who are looking to develop tailored properties specifically targeted at the buy to let market. The scheme involves a range of new-build properties, ranging in size from 500 to 1,500 housing units across various towns in the Midlands. This opens up a new opportunity for landlords who are looking to invest with allegedly easy returns.
A site in Telford has already been identified as a suitable candidate for the scheme, with the potential to house a phased development of 170 units.
Managing director of Belvoir Telford, Simon Bell, said: ‘This is a very exciting PRS initiative, which is the result of some key research of rental income and appropriate housing mix that Belvoir has conducted over the seven years that we have operated in the Telford area. As a result of this research we have identified several Build to Rent opportunities within key growth towns and cities in the Midlands.’
Foundation Home Loans are also targeting the buy to let market and have launched a buy to let fixed rate 5-year remortgage offering. It comes with a free valuation and £250 cashback after completion.
The product fee will be reduced from 2 per cent to 1.75 per cent and will be available to all landlords including portfolio landlords and limited companies. Fixed rate offerings start at 3.59 per cent with LTVs at the upper bands of 65 per cent and 75 per cent.
Commercial director at Foundation Home Loans, Andrew Ferguson, said: ‘The buy-to-let market continues to be driven by remortgage activity, and wider market analysis tells us remortgages were more than double the amount of purchases in June this year. Recognising this and our own remortgage activity as a key driver, we are confident our short-term incentive package will help keep remortgage costs down for landlords.’