Recognise Bank has entered the buy-to-let (BTL) sector with a product aimed at landlords and investors with portfolios of at least four properties.

The new product is available at up to 75% LTV for loans between £100,000 and £5m at rates starting from 3.49% for a five-year fix. Variable rate options also exist.

Both repayment and interest-only deals are available on up to 10 year terms, the lender adds.

Individuals, partnerships, limited companies and limited liability partnerships may apply for loans on single-let residential properties or blocks of flats on an assured shorthold tenancy basis.

A trial of the product has seen £20m worth of deals completed or in progress so far.

Recognise Bank head of corporate development Angela Norman says: “We are very excited about the launch of our professional BTL loan and have been extremely pleased at the response from the handful of advisers and customers we have worked with during the trial period.

“We thought it was important to gather feedback about the proposition to ensure it was right before launching it to the whole market.”