Secured loans lender Central Trust has moved into the buy-to-let market.
The Watford based lender is offering a range of variable deals starting at 9.99% and three-year fixed rates starting at 10.99%.
This new product is aimed at landlords looking to release equity in existing properties without remortgaging. With a maximum LTV of 75% and loans from £3,000 to £70,000, funds can be raised for a wide range of purposes and borrowers can use the rental income they receive as proof of repayments.
Central Trust hopes the new products will offer more flexibility to landlords looking to capitalise on a buoyant rental market.
Buster Tolfree, commercial director of Central Trust, said: “Our new buy-to-let products offer a range of unique customer-focussed features. Simply put, nobody else in the market offers buy-to-let second charges to 75% LTV, on a fixed rate basis or with only a 58 day ERC and unlimited overpayments.
“These features place us right at the cutting edge for buy-to-let second charges. The reaction from our introducers has been amazing, and we look forward to launching further innovative products in the future.”
