All Types of Mortgages Ltd (AToM) has launched a new 85% LTV buy-to-let product exclusively sourced via new lender BlueZest.
This exclusive product is available to all of AToM’s directly authorised and some network partners.
Buy-to-let rates start from 3.69% at 60% LTV, with loans available up to £2m, and available up to £500,000 at 85% LTV with interest rates between 5.25 and 5.35%. The lender will consider companies, individuals and first-time landlords. The product also has a minimum term of 12 months and no ERCs thereafter.
These products are part of a broader range that allow landlords and developers to do refurbishments, conversions and new builds with funds advanced upfront, secured on non-development property that they already own. These mortgage products are available for periods up to 18 months with rates between 8% and 12%, without the need for bridging finance.
Dale Jannels, AToM’s managing director, said: “This is one part of the market that currently lacks competition. We’ve been working with BlueZest for some months and are thrilled to be offering this fantastic product range, including the 85% LTV, exclusively to our broker partners.
“We’re also impressed that BlueZest have launched products for those looking to buy properties which require development work. They really have thought about the gaps in the market place and provided a product offering to assist both existing and potential landlords.”
Chris Slater, BlueZest’s chief executive, said: “We recognise the real needs of today’s landlords, assessing affordability as a combination of rental and non-rental income. This provides confidence in our applicants’ ability to invest in property and be successful in today’s rental market, even at higher LTVs.
“Our launch partners are already demonstrating that there is a significant number of new and experienced landlords in the market for our products.”
Jannels added: “Don’t forget that our award winning lender integration system will also cover the pre-population of paperwork and all brokers have access to our free to use CRM and sourcing tool. With over 3,000 users, it’s the only one of its kind in the market and saves brokers a huge amount of time when it comes to inputting client’s details.”