"Long-term investors are not being deterred, but are perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account"
Aimed at landlords and investors with multiple properties, as well as those looking to secure finance on Houses in Multiple Occupation (HMOs) or semi-commercial properties, the new products are tailored for complex situations, and apply across both first and second charge loans.
A new loan size of £2 million is available for first charge applications, on both the standard and specialist buy-to-let products, and spans most property types. The maximum loan for second charge has also been increased to £500,000.
Marc Goldberg, commercial CEO at Together said: “We’re seeing continued demand for buy-to-let funding, with an increase of 44 per cent in 2016, so we’ve developed this new product range to support property investors as they build their portfolios. As a leading buy-to-let lender, we’re committed to improving and enhancing our products in line with market needs, and our increased loan size of £2 million is reflective of the growing demand for larger loans.
The buy-to-let sector is in a period of transition, and whilst there are a lot of changes taking place, it’s also an exciting time for the market as it adapts and evolves. In fact, we’re seeing that long-term investors are not being deterred, but are perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account.
We’re very much committed to growing our buy-to-let business, and have a dedicated team in this area whose knowledge of the market is second-to-none. We look at applications from all types of customers, including limited companies, and apply our common sense philosophy to each lending decision. Our recent growth in this area is a clear indication of our success and we hope that this will continue as we move forward.”
