Fleet will launch on 26 November as a new lender but Young, who has a background at Capital Home Loans, denied that it will necessarily need to be innovative to succeed.
He said “I throw my hands up in horror at lenders from 2000-2005", while he noted that at the time lenders said they were innovating but actually they were loosening their criteria.
He added: “Innovation? I’m not sure there’s any more to come.
“The only product that has been innovative lately is Castle Trust.”
And Castle Trust senior adviser Matthew Wyles agreed with Young, although he added that the market has “lots of potential” for growth in its current form.
Aldermore managing director Charles Haresnape echoed “the fundamentals of the property market are in favour of the buy-to-let”, bringing up immigration and the flogging off of council houses as two factors which favour the sector.
In 2008 annual buy-to-lending supposedly stood at £44bn, but Haresnape also echoed Young by attributing some of this to “trash lending to the wrong people”.