According to the lender, the new product is a specialist mortgage designed for landlords who fall outside mainstream lending, allowing brokers and their clients to access extreme flexibility on borrower affordability, accepted property, borrower type/credit profile and complex enquiries.
BOOST to let has a 100% Interest Cover Ratio plus it allows unlimited top-slicing for High-Net-Worth borrowers with £1m+ assets.
Funding is available for unusual and complex property including mixed-use to 75% LTV, high-value single assets, holiday lets, student lets, low yield assets, ex-local authority, MUFBs with no exposure limits, and HMOs that are unlimited on bedrooms.
Catalyst welcomes a wide range of borrower types including professional, portfolio and first-time landlords. They lend to individuals, limited companies, LLPs, offshore limited companies, SPVs and Trusts. Ex-Pats, foreign nationals from EEA/non-EEA are accepted. There is no minimum income requirement and borrowers can be retired. Clients with adverse credit are also catered for.
Loans are made to 75% LTV including those with cash-out (80% LTC for purchases) and rates start from 3.74%. Catalysts Major Distributor Panel earn 1.50% commission, brokers 1.00% and the arrangement fee is 2.00%.
Chris Fairfax, (pictured) CEO at Catalyst, says: “We are excited to launch BOOST to let and bring the Catalyst can-do lending approach to the buy to let market. We have built a fantastic team of property finance experts who are ready to support our Major Distributors and Brokers with a product that has extremely strong demand.
"Buy to let is a natural progression for Catalyst and sits well with our bridging, refurbishment, and development finance ranges. This is not mass-market; it is solution-driven focussed lending that boosts both borrower eligibility and the brokers' ability to help more clients.”