Broker adds new longer-term fixed rates and LTV product
Mortgage broker Habito has announced the introduction of new longer-term fixed rates for landlords, at seven and 10 years, at both 80% and 85% loan-to-values.
A new 85% LTV product across the full range of terms will also be available for properties with an EPC rating of A-C and where the property value is worth a minimum of £100k.
The lender is also increasing its maximum loan size from £1 million to £2 million to help further support landlords in London and the South East.
“We know that landlords have seen the multiple base rate hikes from the Bank of England since December, and are considering fixing their rate for longer to get that security over their monthly mortgage repayments and protect their rental yield. Our new 85% LTV products will also reward landlords with properties with better energy performance ratings as we try to encourage landlords to think ahead to the proposed upcoming EPC changes which will require buy-to-let properties to have a rating of C or above by 2025, to begin a new tenancy,” Alan Fitzpatrick, VP of lending at Habito, said.
“Combined with our cashback offer, and swift technology-led application process, we hope our new deals provide brokers and landlords even more reason to continue to choose Habito as their lender.”
The cashback bonus is the continuation of an offer that was introduced in November 2020.