"We’ve been working with BlueZest for some months and are thrilled to be offering this fantastic product range, including the 85% LTV, exclusively to our broker partners."
The product is available to all of AToM’s DA and some Network partners and is only the second product at 85% LTV in the buy-to-let market.
Rates for the 85% LTV product will start from 5.25% with loans available up to £500,000.
Also available is a 60% LTV from 3.69% for lending up to £2m. Products have a minimum term of 12 months and no ERCs thereafter.
The lender will consider companies, individuals and first-time landlords.
The new products are part of a broader range that allow landlords and developers to do refurbishments, conversions and new builds with funds advanced upfront, secured on non-development property that they already own. Products are available for periods up to 18 months with rates between 8 and 12%, without the need for bridging finance.
AToM's Managing Director, Dale Jannels, said: "This is one part of the market that currently lacks competition. We’ve been working with BlueZest for some months and are thrilled to be offering this fantastic product range, including the 85% LTV, exclusively to our broker partners. We’re also impressed that BlueZest have launched products for those looking to buy properties which require development work. They really have thought about the gaps in the market place and provided a product offering to assist both existing and potential landlords.”
BlueZest’s Chief Executive, Chris Slater, added: “We recognise the real needs of today’s landlords, assessing affordability as a combination of rental and non-rental income. This provides confidence in our applicants’ ability to invest in property and be successful in today’s rental market, even at higher LTVs. Our launch partners are already demonstrating that there is a significant number of new and experienced landlords in the market for our products.”
