Together has unveiled a new range of lower rate BTL products, available from 4.69%.
These products have been designed for portfolio landlords, with two or more properties, seeking finance of over £1m.
The range has lower-than-standard rates with the 4.69% product applying to first-charge, two-year fixed mortgages.
These new products are available via standardised single monthly payments across the overall portfolio via one direct debit.
One affordability assessment is required, alongside one guarantee.
The newly launched proposition is available for both first- and second-charge BTL products with AVM offered on all fully residential property.
The proposition enables brokers to offer structured funding solutions to clients including non-standard or mixed asset types, regardless of maximum portfolio size.
Second-charge rates are available for portfolio landlords at 25bps above first-charge with lender arrangement fees on a sliding scale to allow for flexibility in terms of repayments.
“We know from the feedback that we’ve had from brokers that landlords are proactively seeking innovative ways to maximise future opportunities, moving away from individual property loans and turning to lenders who can restructure debt at a portfolio level,” said Russell Anderson, chief strategy director at Together (pictured above).
“The move is a clear signal to lenders that those able to help with complex financial solutions will be best placed to offer the added levels of support that landlords seek from their finance partner.
“We’re pleased to launch our new portfolio proposition at a lower rate than our standard BTL products across first- and second-charges to allow landlords to release equity across their assets to grow their portfolios.”
