Market Financial Solutions has launched a new Core Buy-to-Let offer, with the existing BTL range becoming the specialized buy-to-delet.
The core products are available on two levels, depending on the risk profile of a borrower and the loan they need. There are bi- and three-year solutions and a two-year tracker.
The products are only for residential properties and standard insured Shorthold rental contracts (ASTs). They have a maximum period of 25 years and there are no rolled up or deferred payment options (these are available through the specialized BTL series).
Open market valuations (OMVs) will be used to maximize the available LTV and to reduce friction.
UK expats with footprint, Housing in Honor countries, Channel Islands, Switzerland, US, Canada, Australia or New Zealand all have access to the core BTL loans, while the first landlords are also accepted on Tier 2. Strange nationals and offshore companies are excluded.
Respond to the product launch Financial solutions on the market Chief Executive Paresh Raja said: “The launch of the Core BTL series is another important step for us; the core products are all about simplicity and accessible ease for landlords, and they will perfectly supplement the specialized BTL range, that there is all types of BTL-Leners.”