Hinckley & Rugby for Intermediaries has increased its maximum loan-to-value (LTV) on Buy-to-Let (BTL) products to 80%.

This lender introduces two new discounted mortgage products, now available. 

For both personal and limited company landlords, the products are designed to address the limited product availability in current market conditions.

Both products are available for purchase and remortgage, with loan sizes from £100,000 to £750,000.

Both products carry a £250 application fee, a £999 completion fee, and a payable valuation fee. 

Interest Coverage Ratio (ICR) calculations are set at 125% for basic rate taxpayers and 145% for higher and additional rate taxpayers on personal applications, and a flat 125% for limited company borrowers.

Christopher Holmes, Products & Proposition Senior Manager at Hinckley & Rugby, says:“We know that brokers working in the BTL space are experiencing more limited choice for higher-LTV products. 

“These new 80% LTV products are a direct response to that challenge.”