Posts with tag: second charge lending

Prestige Finance Introduces Second Charge BTL Range

Published On: May 23, 2015 at 3:48 pm


Categories: Finance News

Tags: ,,,

Prestige Finance, a second charge loan specialist firm, has introduced a new range of buy-to-let mortgage products.

Prestige Finance Introduces Second Charge BTL Range

Prestige Finance Introduces Second Charge BTL Range

Using the advice of its key partners, Prestige created the products to allow landlords to release equity without having to reorganise their portfolio and existing buy-to-let mortgage.

The variable range includes a professional landlord offer, for three or more homes, with a maximum loan of £1m per property. Rates begin at 5.79% up to 75% loan-to-value (LTV).

The standard buy-to-let product has a rate of 6.99% up to 75% LTV with a maximum size of £200,000 per property.

Head of Product & New Business at Prestige, Darrell Walker, explains: “We’re very pleased to launch our completely new range of buy-to-let products. It couldn’t have been achieved without the valuable and extensive insight of our broker partners, who have helped us to create such a strong proposition for property investors.

“They told us a large number of their portfolio clients were unable to release equity without disturbing their main headline rate. Also the high rates available would often be the stumbling block for landlords currently benefiting from historic tracker products.

“We’ve listened to broker feedback and utilised the specialist lending expertise of our parent group, OneSavings Bank, to create a genuine market-leading product range.”1

Sales & Marketing Director at OneSavings Bank, John Eastgate, adds: “The inclusion of a brand new product range again reinforces Prestige Finance’s position as a real leader in terms of product innovation, partnerships and its professional approach to the second charge market.

“It’s great to witness the expertise of the specialist lending teams of OneSavings Bank coming together to deliver a competitive product that really helps both key partners and their clients.”1