The products are a 75% loan-to-value (LTV) 5-year discount at 2.49% with a £1,499 fee, a 75% LTV 2-year discount at 2.99% with a £999 fee and a 75% LTV 3-year discount at 3.29% with a £999 and it is available to individual and limited company landlords.
As well as this, a 75% LTV 5-year discount at 2.49% with a £1,499 fee and a 75% LTV 2-year discount at 2.99% with a £999 fee have been introduced. Both products are only available for limited company applicants.
The lender has also enhanced its criteria to allow it to support more landlords. It now lends to landlords with no minimum income requirement and has extended its maximum age at the end of term to 80.
Vernon’s buy-to-let mortgages are also now available to non-owner occupiers, first-time landlords and first-time buyers on an individual and limited company basis, as well as on let-to-buy applications.
In addition to the new products, the lender offers a range of holiday let buy-to-let mortgages.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “We’ve boosted our buy-to-let product range to meet demand.
“And we’ve updated our lending criteria to support a wider range of landlords, whether they’re first-time buyers or seasoned professionals with their portfolio held in a limited company structure.
“We’ve listened carefully to brokers and added these products to meet the needs of your clients. Our practical approach to underwriting means we’ll treat each case individually and look for ways to say yes where possible.”
