The lender now has a wide range of options for landlords, including those who operate under a limited company structure and landlords who own their properties on a personal basis.
Vernon’s new products include a five-year discounted rate at 2.49% up to 75% LTV with a £1,499 fee; a two-year discounted rate at 2.99% up to 75% LTV with a £999 fee; and a three-year discounted rate at 3.29% up to 75% LTV with a £999 fee, available to both individual and limited company landlords.
The lender is also offering two new products specifically for limited company landlords - a five-year discounted rate at 2.49% up to 75% LTV with a £1,499 fee and a two-year discounted rate at 2.99% up to 75% LTV with a £999 fee.
The lender has also enhanced its criteria to allow it to support more landlords. It now lends to landlords with no minimum income requirement and has extended its maximum age at the end of term to 80.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said:
“We’ve boosted our buy-to-let product range to meet demand."
“And we’ve updated our lending criteria to support a wider range of landlords, whether they’re first-time buyers or seasoned professionals with their portfolio held in a limited company structure."
“We’ve listened carefully to brokers and added these products to meet the needs of your clients. Our practical approach to underwriting means we’ll treat each case individually and look for ways to say yes where possible.”
