Second charge mortgage specialist Prestige Finance has launched a consumer buy-to-let offering and simplified its proposition by integrating both its professional and standard buy-to-let products into a single range.
New rate reductions now apply to all buy-to-let variable rates and complement the new two-year and five-year fixed rates offered by the company.
Prestige has also reduced all variable and fixed rates across its prime residential product range, as the firm seeks fresh ways to enhance its offering, according to Darrell Walker, head of sales for second charge and commercial lending at Prestige’s parent company OneSavings.
He said: “These rate cuts are a testament to that commitment and the simplification to a single pricing option will also make things more straightforward for brokers.
“Consumer buy-to-let makes up a growing element of the second charge loan market, and we know it’s something brokers have been keen for Prestige to provide.
“We’re therefore launching this new proposition to not only enhance our suite of buy-to-let mortgages, but directly meet this broker feedback.”
Prestige’s new offering will follow the existing buy-to-let pricing:
+ Reduced rates available from 5.49% on 60% LTV
+ 6.19% on two-year fixed rate
+ 6.59% on five-year fixed rate