A new specialist buy to let product range has been launched by specialist lender Together, offering a maximum loan size of £2 million.
The range, aimed at landlords and investors with multiple properties, as well as those looking to secure finance on Houses in Multiple Occupation (HMOs) or semi-commercial properties, is tailored for those with complex mortgage situations. The options are available for both first and second charge loans.
A further point of interest from the range is that the maximum loan size has been increased to £2 million. This is open for first charge applications, on both the standard and specialist buy-to-let products, and spans most property types. For second charge loans, the maximum is £500,000, a figure which also marks an increase.
Commercial CEO of Together, Marc Goldberg,said: ‘We’re seeing continued demand for buy-to-let funding, with an increase of 44 per cent in 2016, so we’ve developed this new product range to support property investors as they build their portfolios. Our increased loan size of £2 million is reflective of the growing demand for larger loans.’
He continued: ‘The buy-to-let sector is in a period of transition, and whilst there are a lot of changes taking place, it’s also an exciting time for the market as it adapts and evolves. In fact, we’re seeing that long-term investors are not being deterred, but are perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account.
‘We’re very much committed to growing our buy-to-let business, and have a dedicated team in this area whose knowledge of the market is second-to-none. We look at applications from all types of customers, including limited companies, and apply our common sense philosophy to each lending decision. Our recent growth in this area is a clear indication of our success and we hope that this will continue as we move forward.’