The Nottingham unveils 75% LTV limited company buy-to-let mortgages
The Nottingham for Intermediaries has launched 2-year fixes at 2.76% with a £999 fee and 2.79% with a 0.50% fee, both to 75% LTV.
They are designed to help landlords who have limited company status for their portfolios. Changes to mortgage interest rate tax relief have led to landlords reviewing how their portfolios are structured.
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “Judging from the conversations we’ve been having with our broker network, many landlords are considering structuring their portfolios on a limited company basis, if they haven’t already, so it’s important we offer competitively priced products to suit their needs and that build on our expertise in the BTL space.
“However, it isn’t just about the right product – there will be ease of use for brokers, who will benefit from exactly the same process as they do when applying for residential or individual buy-to-let mortgages via our broker portal system.
“They will also receive our usual quality service that includes their own regional business development manager and direct access to underwriters.”
The Nottingham recently started allowing buy-to-let purchases as well as remortgages, facilitated by its investment in technology for the new broker portal system that was launched at the end of last year.
Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “One of the strong points of The Nottingham’s proposition over the years has been in buy-to-let.
“The move to add limited company to the buy-to-let range is very welcome and will most certainly be embraced by intermediaries.
“As with any mortgage sector, competition and choice is vital, and the criteria and products from The Nottingham really do enhance what is available today.”