The Mortgage Lender has announced it is returning to offer physical valuations on buy-to-let (BTL) applications for properties in Scotland and Wales, after COVID-19 restrictions were relaxed by the devolved Governments.
The lender revealed that physical valuations are again available for individuals or Ltd companies looking to purchase, as well as remortgage single dwellings including new builds, HMOs and MUBs across its BTL product range.
Rates are starting at 3.13% for a two-year fixed product at 70% LTV with products available up to 75 % LTV for purchase and remortgage.
The move follows the reintroduction of physical valuations in England last month.
The Mortgage Lender sales director, Steve Griffiths, commented: “There is significant pent up demand from landlords whose plans were put on hold when we went into lockdown.
“This latest easing of restrictions means landlords are now able to execute their plans across the UK and coincide with increased availability of competitive products, like our own, that are designed to support a returning confidence to the housing market and give brokers and their customers greater choice.”
Brightstar group chief executive, Rob Jupp, added: “It has been encouraging to see companies like The Mortgage Lender embrace desktop valuations to help landlords with Scottish and Welsh properties during lockdown.
“The return to physical surveys means more complex circumstances such as HM0, MUB and new build, all of which we are seeing high demand for, can now progress.”
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