Together announces record month for BTL lending
Specialist lender Together has announced that its buy-to-let lending hit a record high in June, with 149 deals spanning first and second charge loans. This included both traditional and consumer buy-to-let, with the latter accounting for 28 per cent of the total number of loans.
Buy-to-let lending for the quarter was up 65% on the same period last year, despite the tax changes implemented in April.
The lender recently removed the maximum age limit and doubled loan size on its first charge buy-to-let mortgages, taking the loan amount available from £200k to £400k, where applications meet the lending criteria.
Commercial CEO Marc Goldberg explains:
“Looking back over the last 18 months, June is a record for our buy-to-let lending and I think that’s a really positive indication of the strength of this sector, despite the various changes, including the increased stamp duty, introduced earlier this year.
“We continually work with our intermediary partners to improve and enhance our product offering and our strong performance reaffirms that we’re giving brokers what they want when it comes to buy-to-let products. We hope to see continued growth in the latter half of the year.”
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