Vernon reintroduces top-slicing on buy-to-let

19 March 2021

Vernon Building Society has reintroduced top-slicing to its buy-to-let proposition to offer more flexibility to landlords with a personal income.

The lender has also increased its maximum LTV on buy-to-let, back to 75% from 70% and launched two new holiday let products.

The new holiday let mortgages are three-year discounted rate products, starting from 1.71% with a fee of £1,499.

Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society, said: “Vernon is very experienced in the buy-to-let market and our new criteria and product range adds depth and breadth to our proposition. We know that top-slicing is an important and useful tool for some landlords who want to boost their buying power or refinance their existing mortgage.

“Our maximum LTV is now back to 75% as we continue to respond to the more positive market conditions and adapt our buy-to-let range to meet the needs of landlords.”

Vernon has a diverse range of buy-to-let mortgage products, available to individuals and limited companies, non-portfolio and portfolio landlords, on residential and holiday let properties.