Together has launched a new specialist buy-to-let loan loan range, designed to support property investors as they grow their portfolios, and increased the maximum loan size to £2 million.
Aimed at landlords and investors with multiple properties, as well as those looking to secure finance on Houses in Multiple Occupation (HMOs) or semi-commercial properties, the new products are tailored for complex situations, and apply across both first and second charge loans.
The new loan size of £2 million is available for first charge applications, on both the standard and specialist buy-to-let products, and spans most property types. The maximum loan for second charge has also been increased to £500,000.
Marc Goldberg, commercial CEO at Together said:
“We’re seeing continued demand for buy-to-let funding, with an increase of 44 per cent in 2016, so we’ve developed this new product range to support property investors as they build their portfolios. As a leading buy-to-let lender, we’re committed to improving and enhancing our products in line with market needs, and our increased loan size of £2 million is reflective of the growing demand for larger loans.
“The buy-to-let sector is in a period of transition, and whilst there are a lot of changes taking place, it’s also an exciting time for the market as it adapts and evolves. In fact, we’re seeing that long-term investors are not being deterred, but are perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account.
“We’re very much committed to growing our buy-to-let business, and have a dedicated team in this area whose knowledge of the market is second-to-none. We look at applications from all types of customers, including limited companies, and apply our common sense philosophy to each lending decision. Our recent growth in this area is a clear indication of our success and we hope that this will continue as we move forward.”
Together has been recognised as a leading finance provider for buy-to-let, having received two industry awards in the past six months.