New Bank Sees Potential Of Buy To Let Sector

08 November 2012 Categories: News

New Bank Sees Potential Of Buy To Let Sector

New kids on the block, Cambridge & Counties Bank, have already realised the potential of the buy to let industry by launching a competitive loan range this week – just five months after they themselves launched. The loans on offer are apparently available to “residential property investors who can demonstrate knowledge and experience in this market”, so it would seem that first-time landlords may need to look elsewhere.

The loans on offer include up to 70% LTV for 25 year periods and interest rates of 4.5% above base rate. Interest only loans are also available for periods of up to 10 years.

Chief executive of Cambridge & Counties, Gary Wilkinson, commented, ‘Entering the residential lending market is the latest example of our continued growth. Not only does this proposition support businesses looking to invest in property, thereby benefiting business development and growth within the economy, it will also help bring more housing onto the market and aid the current housing shortage. There is a lot of competition in this sector, but by offering a competitive rate, coupled with our commitment to providing a quality service, we are confident our proposition will be well received’.

Cambridge & Counties residential investor loans are nationally available from the broker network.