Catalyst has moved into the buy-to-let market with ‘BOOST to let’.
The product is a specialist mortgage designed for landlords who fall outside mainstream lending.
Catalyst claims that brokers and their clients can expect “extreme flexibility” on borrower affordability, accepted property, borrower type/credit profile and complex enquiries.
BOOST to let has a 100% Interest Cover Ratio (ICR) and it allows unlimited top slicing for high net worth borrowers with £1m+ assets.
Funding is available for unusual and complex property including mixed use to 75% LTV, high value single assets, holiday lets, student lets, low yield assets, ex-local authority, MUFBs with no exposure limits, and HMOs that are unlimited on bedrooms.
Catalyst welcomes a range of borrower types including professional, portfolio and first-time landlords. They lend to individuals, limited companies, LLPs, offshore limited companies, SPVs and Trusts. Ex-pats, foreign nationals from EEA/non-EEA are accepted. There is no minimum income requirement and borrowers can be retired. Clients with adverse credit are also catered for.
Loans are made to 75% LTV including those with cash-out (80% LTC for purchases) and rates start from 3.74%.
Catalyst’s Major Distributor Panel earn 1.50% commission, brokers 1.00% and the arrangement fee is 2.00%.
Chris Fairfax (pictured), CEO at Catalyst said: “We are excited to launch BOOST to let and bring the Catalyst can-do lending approach to the buy-to-let market. We have built a fantastic team of property finance experts who are ready to support our major distributors and brokers with a product that has extremely strong demand.
“Buy-to-let is a natural progression for Catalyst and sits well with our bridging, refurbishment, and development finance ranges. This is not mass market; it is solution driven focussed lending that boosts both borrower eligibility and the brokers ability to help more clients.”