Hinckley & Rugby Building Society is pleased to announce the launch of an exciting new product. The bespoke BTL mortgage has been exclusively designed for existing or aspiring non-owner occupier landlords who, for varying reasons, reside in a property which they do not own.
Suitable for either the first time buyer looking to invest in their first property or the established landlord adding another purchase to their portfolio, the product is available as a 2-year discount at a charging rate of 2.84%, a 2-year fixed rate at 2.99% or a 5-year fixed rate at 3.89%, all at up to 75% LTV.
Carolyn Thornley-Yates, Head of Sales & Marketing at Hinckley & Rugby, said:
“There are myriad reasons why a non-owner occupier might wish to become a landlord; for example people living in accommodation tied to their employment, first time buyers working and renting in large cities who are looking to get onto the property ladder by buying somewhere more affordable and people looking to rent out their existing homes without a connected purchase. We are regularly approving good quality mortgages of this nature and so we decided to create a bespoke product to raise awareness of the Society as a lender of choice in these circumstances.
“We are happy to receive new business enquiries on this product and have access to our daily Mortgage Referrals Committee of senior decision makers for any particularly complex cases.”