New buy-to-let lending service launches
Tuesday 1st May 2012
A new buy-to-let lending service has been launched as a co-venture between Mortgages for Business and Aldermore Commercial Mortgages.
Keystone Buy to Let Mortgages will provide a fresh funding line for professional property investors from Aldermore Commercial Mortgages, with access to the products available exclusively through Mortgages for Business, which will manage the whole application process.
The product range is aimed at both individual and limited company investors who already own at least one residential investment property. The range includes a selection of fixed and discounted rate buy-to-let mortgages for vanilla, HMO and multi-unit property.
David Whittaker, managing director of Mortgages for Business, said: “Over the last few years it’s been increasingly difficult for professional landlords with decent-sized portfolios to secure funds for medium-sized loans.
“This has not only inhibited their ability to purchase ‘vanilla’ buy-to-let property but also means they struggle to find finance for more complex deals such as HMOs or multi-unit properties and to make acquisitions in limited company vehicles.
“Given the importance of the private rental sector as a safety net to the housing market, this gap in the market needed filling.”
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