The Mortgage Lender has increased the loan to value (LTV) for capital raising landlords from 65% to 75% on all remortgage products.
This means there are no limits on the amount of capital a landlord is able to raise in England, Scotland and Wales through a remortgage up to 75% loan to value.
The facility is available across its core product range and rates for a five-year fix start at 3.49% and its two-year fixed rate products start at 3.13%.
Steve Griffiths (pictured), The Mortgage Lender’s sales director, said: “We’ve been working hard to support brokers and their buy-to-let clients throughout the pandemic. Recent process enhancements and increased resource in our new business teams has allowed us to increase capacity to support this key area, as it is clear that, for most landlords, their plans have not changed, indeed many see it as an opportunity to add properties to their portfolios.
“Whether capital raising is for business investment, to buy a new property, improve an existing property or refinancing, it’s important we have the right combination of criteria and rates to support their plans. Increasing the capital raising loan to value to 75% demonstrates our ability to react to market conditions and is the right decision for us, brokers and landlords right now.”