First 4 Bridging (F4B) has announced the launch of a “semi-exclusive” buy-to-let (BTL) product with Castle Trust Bank.
The BTL product has a five-year term with a two-year ERC at a rate of 4.5%, and has a maximum LTV of 75% with an arrangement fee of 2%.
The product is available to first-time landlords and portfolio landlords for residential and remortgage purposes, and comes with a minimum loan size of £150,000, and maximum loan size of £2m.
F4B also revealed that it is available to individuals, sole traders, limited companies, LLPs and partnerships, covering a range of BTL investment vehicles including holiday lets, HMOs, portfolio loans and property refurbishment. The semi-exclusive is expected to be offered via a select group of distribution partners.
F4B director, Donna Wells, commented: “We are experiencing a huge uplift in activity levels across all areas of the BTL sector as a range of investors continue to take advantage of some favourable market conditions, highly competitive rates and strong service levels, especially from specialist lenders.
“Many landlords are looking for lenders with flexibility on how interest is serviced and who have the appetite to make lending decisions based on some unconventional circumstances. As such, Castle Trust has become a great option for many and we fully expect this to be a popular product amongst new and existing intermediary partners when servicing the needs of their landlord clients.”
Castle Trust sales director, Rob Oliver, added: “When we chose the distributors to offer this semi-exclusive product we wanted to partner with firms that match our own commitment to excellent service, and the team at F4B fit the bill. We’re looking forward to working together with them to help more property investors unlock even more opportunities.”
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