Financial Times - Lenders target buy-to-let landlords - November 2013
Landlords have an increasing number of cheap mortgage options as more banks and building societies look to target the rapidly growing private rental sector. Last week, NatWest became the latest lender to make its buy-to-let mortgage range more competitive and it significantly eased its rental income criteria.
Many of the specialist buy-to-let lenders cap their maximum loan size at £1 million, although there has been some more entrants to large loan market. While it maybe possible to arrange £1 million-plus buy-to-let mortgages with private banks at 2 per cent over three-month sterling Libor, there is often a catch.
Aaron Strutt of Trinity Financial, told the Financial Times that landlord's options shrink further if they are not keen to move their existing banking relationship or they do not want to transfer assets as part of the transaction.
Trinity Financial has access to a high-street lender offering particularly competitive buy-to-let mortgages between £750,000 and £1.5 million.
Their lowest two-year fix is 3.19%, and it is available providing you have a 35% deposit. They also offer a two-year fixed rate at 3.69% if you have a 25% deposit.
Both mortgages have 0.5% arrangement fees and mortgages above the £1.5 million standard will also be considered.
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November 11, 2013
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