Together committed to complex BTL

By Marc Goldberg, commercial CEO

Here at Together we have recently launched a new specialist buy-to-let range and increased loan sizes to £2m, to support the growing number of landlords and investors that have more complex situations and require a more tailored approach to finance. This predominantly includes landlords with multiple properties, as well as those looking to secure finance on houses in multiple occupation (HMOs) or semi-commercial properties.

The new loan size of £2m is available for first charge applications on both the standard and specialist buy-to-let products, and spans most property types. The maximum loan for second charge has also been increased to £500,000.

We’re seeing continued demand for buy-to-let funding, with an increase of 44 per cent in 2016, so we’ve developed this new product range to support property investors as they build their portfolios. As a leading buy-to-let lender, we’re committed to improving and enhancing our products in line with market needs, and our increased loan size of £2m is reflective of the growing demand for larger loans.

The buy-to-let sector is in a period of transition, and while there are a lot of changes taking place, it’s also an exciting time for the market as it adapts and evolves. In fact, we’re seeing that long-term investors are not being deterred, but are perhaps focusing on lower loan-to-values and using larger deposits to take the various changes into account.

One in five of all properties bought in the second half of 2016 was an additional home – with the government earning 18 per cent more stamp duty from residential property sales than in 2015 – which highlights the extent of the continuing popularity of buy-to-let, despite the changes the sector has faced.

Given the strong rental market across the UK, this is unsurprising. With the ongoing shortage of housing and historically low interest rates, property remains a popular investment choice for many.

Here at Together, we’re committed to growing our buy-to-let business, and have a dedicated team whose knowledge of the market is second-to-none. We look at applications from all types of customers, including limited companies, and apply our commonsense philosophy to each lending decision. Our recent growth in this area is a clear indication of our success and we hope that this will continue as we move forward.

Together has been recognised as a leading finance provider for buy-to-let, having received two industry awards in the past six months.