Mortgages for Business has started an exclusive three-week pilot for new buy-to-let lender Axis Bank.
The pilot, which is intended to help Axis delivers a positive broker experience, will run until 27 April when it starts lending via a restricted panel of specialist intermediaries.
The range targets experienced landlords with both a standard and specialist range. Rates start at 3.79% for a two-year fixed rate to 75% LTV with a fee of 1.5%.
Criteria are as follows:
- No minimum income requirements
- Unlimited number of mortgaged properties with other lenders
- Loans up to £1m
- Lending to limited companies and expat landlords
- HMOs up to six beds
- Multi-unit freeholds up to five units
Steve Olejnik, sales director at Mortgages for Business, said: “We’ve been working closely with Axis in the run up to launch and I must say I’m very impressed with its new online submission platform. It’s easy to use and should help to make application processing pretty smooth. In addition to standard buy to lets, it has been designed to handle more complex propositions including limited companies and HMOs.
“The decision-making process will be quick and pragmatic too with all cases being assessed and negotiated individually. I think that brokers are going to be impressed with the attention to detail and level of customer service.”