Second charge BTL range launches at Prestige Finance

Second charge loan specialist, Prestige Finance, has announced today that it has launched new range of Buy-to-let products for second charge lending.

Related topics:  Finance
Warren Lewis
21st May 2015
To Let 3

Developed using feedback and insight from its key partners and introducers, the new products allow landlords to release equity without having to restructure their main portfolio and existing buy-to-let mortgage.

The new variable range includes a Professional Landlord for three or more properties in portfolio with a maximum loan size of £1,000,000 per property. Rates start from 5.79% up to 75% LTV.

The standard BTL product has rates from 6.99% up to 75% LTV, with a maximum loan size of £200,000 per property.

Darrell Walker, Head of Product & New Business, Prestige Finance, said: “We’re very pleased to launch our completely new range of Buy-to-let products. It couldn’t have been achieved without the valuable and extensive insight of our broker partners, who have helped us to create such a strong proposition for property investors.

They told us a large number of their portfolio clients were unable to release equity without disturbing their main headline rate. Also the high rates available would often be the stumbling block for landlords currently benefiting from historic tracker products. We’ve listened to broker feedback and utilised the specialist lending expertise of our parent group, OneSavings Bank, to create a genuine market leading product range.”

John Eastgate, Sales & Marketing Director, OneSavings Bank, added: “The inclusion of a brand new product range again reinforces Prestige Finance’s position as a real leader in terms of product innovation, partnerships and its professional approach to the second charge market. It’s great to witness the expertise of the specialist lending teams of OneSavings Bank coming together to deliver a competitive products that really helps both key partners and their clients.”  

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