Melton Building Society has announced its entry into the limited company buy-to-let mortgage market, broadening its lending portfolio to support a wider range of property investors.
The new range, which consists of six new products, features a blend of two and five-year discounted and fixed products. They are all offered at 75% LTV and benefit from a £250 application fee and 1% completion fee.
The products are available for both standard and holiday lets. A complex product range is also available for non-standard residential properties including blocks of flats, multiple units and multiple properties on the same loan.
The Society will now accept portfolio landlords who have a maximum of five properties with Melton Building Society, up to a maximum value of £5 million, with an average LTV across their portfolio of 75% LTV.
The range is available on properties across England and Wales with no maximum number of properties and property value across the entire portfolio.
Jamie Hyland, head of product and marketing at Melton Building Society, said: “Our entry into the limited company buy-to-let space reflects both market demand and our ambition to help a broader range of investors.
“We’ve already introduced a number of developments across our mortgage product range so far this year, and we aim to continue to evolve our product range to offer brokers, and their client’s products that suit the complexities of the ever changing property landscape. We recognise the complexities that come with being a property investor in today’s market, and with our limited company buy-to-let product range we hope to offer flexibility, competitive pricing, and a straightforward application process.”