London Credit has launched a buy-to-let product, which the specialist bridging lender says will “help property investors to ride out a period of uncertainty in the market”.
Its hybrid landlord deal has a two-year term that allows investors to service a portion of the loan, with the remaining interest retained and payable on redemption.
The loan is available for residential and semi-commercial properties up to a maximum LTV of 70% at redemption and borrowers can exit the loan without penalty after six months.
London Credit credit manager Marios Theophanous says: “We’ve been asked by a number of brokers to develop something to help their clients to navigate immediate uncertainty in the BTL market and this new product, which enables a hybrid of serviced and retained interest, does just that.
“The product is available for a term of two years, but borrowers can exit it without penalty after just six months, providing them with the flexibility they need to respond to market changes as they choose.”
