Key features of the buy to let range will help brokers when placing cases and include reduced rates across all plans, no six month minimum ownership period and a consistently flexible approach when considering a variety of property types, purposes and customer profiles.
As well as first charge buy to let products, Blemain Finance also offers second charge buy to let loans which allow landlords to raise finance against an existing property. This can often be a better solution than a remortgage.
Commenting on the announcement, Gary Bailey, Sales Director for Blemain Finance, said:
“As the buy to let boom continues there has been a real surge in demand for lenders to continue to provide innovative products – we’ve responded with a number of product changes to what was already a wide ranging buy to let product offering.
“We constantly engage with our broker partners for feedback on how we can improve our products, and these changes have been made to cater for a wide variety of brokers’ clients, whether first-time buy-to-let landlords or more seasoned investors. Our manual underwriting process also means that we can consider a wider range of cases by taking into account the individual case on its merits.
“Flexibility is key to surviving in a changing and competitive marketplace. We’ve continued to listen to feedback and have adapted our products to the needs of brokers’ customers.
As a responsible lender, affordability is always at the heart of our underwriting processes and decision making. Our buy to let range separates us from many lenders in the market due to our flexible approach when considering multiple sources of income. We also take into account projected rental income where the property does not yet have a tenant.”
With 40 years’ experience in the secured lending sector, Blemain Finance has continued to evolve its product range, staying ahead of the market, something that has been recognised by growing business volumes and recent industry award wins.