Central Trust has today (20th June) increased access to its consumer BTL mortgage proposition by making it available to Northern Ireland borrowers.
The FCA-regulated consumer BTL mortgages from the first- and second-charge lender are suitable for landlords who initially bought a property without any plans to rent it out, or don’t own any other properties that are being leased.
Additionally, if proprietors (or other family members) have lived in the property before, the consumer BTL mortgage may be what they’re looking for.
“As a specialist lender, we are used to degrees of complexity in borrowers, and cases and can take a more nuanced view to areas where there is traditionally a restricted lending appetite,” said Maeve Ward, commercial operations director at Central Trust (pictured above).
“We believe there will be real demand for our consumer BTL proposition in Northern Ireland.
“Advisers will find that we are willing to listen to the applicant’s story and apply a common-sense approach to lending,” she added.
Commenting on the move, Ronan McCaughley, regional business director at fintech broker Loan.co.uk, added: “This is excellent news for prospective landlords in Northern Ireland and adds greater breadth and choice to the market.
“We have worked with Central Trust for some time now and welcome its ability to flex and help those who would otherwise not have the property opportunities others enjoy; this is truly a step forward in the Northern Ireland property market.”
In the area, the finance provider’s maximum LTV on its 0 and 1 status products for consumer BTL stands at 75%.
In April, the business improved its consumer BTL offering and revamped its existing AVM criteria, which is now available for loans up to £100,000 at 80% LTV (subject to a confidence score of six or above).
