21 May, 2015
Prestige Finance, the second charge loan specialist and part of OneSavings Bank, has launched a range of buy-to-let products for second charge lending, writes Sarah Davidson.
Developed using feedback and insight from its key partners and introducers, the new products allow landlords to release equity without having to restructure their main portfolio and existing Buy-to-let mortgage.
The new variable range includes options tailored for both standard and professional landlords with rates from 5.79% available up to 75% loan-to-value.
Darrell Walker, head of product and new business at Prestige Finance, said: “This range 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.”
John Eastgate, sales and marketing director at OneSavings Bank, added: “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.”