Vernon Building Society has reintroduced top-slicing to its buy-to-let (BTL) proposition to offer more flexibility to landlords with a personal income.
The lender has also announced it is increasing the maximum LTV on its BTL range, back to 75% from 70%, as well as the launch of two new holiday let products.
These new holiday let mortgages are three-year discounted rate products, starting from 1.71% with a fee of £1,499.
Vernon’s range of BTL mortgage products are available to individuals as well as limited companies, non-portfolio and portfolio landlords, on residential and holiday let properties.
Head of mortgage and savings distribution, Brendan Crowshaw, commented: “Vernon is very experienced in the BTL market and our new product range adds depth and breadth to our proposition. We know that top-slicing is an important and useful tool for some landlords who want to boost their buying power or refinance their existing mortgage.
“Our maximum LTV is now back to 75% as we continue to respond to the more positive market conditions and adapt our BTL range to meet the needs of landlords.”
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