The Mortgage Lender has announced that it has launched desktop valuations for buy to let purchase and remortgage cases up to 75% loan to value.
From today, the facility will support existing buy to let pipeline cases, where possible, and be available for the majority of new individual, ExPat and Limited Company buy to let applications.
For properties that are not suitable, including Houses of Multiple Occupation and Multi-Unit Blocks, applications can still be submitted by brokers and cases will be progressed once a physical valuation is possible.
The move follows the launch of a revised buy to let range with two-year fixed rates starting from 3.13% for individual and Limited Company applications at 70% loan to value, and five-year fixed rates starting from 3.49%.
Steve Griffiths, Sales Director, said: “Landlords’ business hasn’t stopped because of the current crisis. It is now more important than ever to ensure they have products that can deliver access to funding so they can manage their portfolios.
“With the new purchase market effectively on hold, facilitating pipeline purchases and remortgages are key to ensuring brokers can continue to support their clients and in turn provide them with much-needed cash flow during this challenging period. We will continue to support our intermediary partners by combining our real-life criteria with the latest technology solutions.”