Vernon launches buy-to-let range

Stockport mutual Vernon Building Society has launched a selection of buy-to-let mortgages, with rates starting from 2.49%.

The 2.49% product is a 5-year discount to 75% loan-to-value with a £1,499 fee, while there is mortgage with the same rate and fee for limited company landlords.

Similarly there are 2-year discount rate products at 2.99% to 75% LTV with a £999 fee for individuals and those operating through a limited company.

Finally there is a 3-year discount rate at 3.29%.

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.”

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.

The lender also offers a range of holiday let buy-to-let mortgages.

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