Vernon boosts buy-to-let range with five new products
11 October 2021
Stockport’s mutual, Vernon Building Society, has launched five new buy-to-let mortgages to complement its existing range of landlord products.
The lender now has a wide range of options for landlords, including those who operate under a limited company structure and landlords who own their properties on a personal basis.
Vernon’s new products include:
- A five-year discounted rate at 2.49% up to 75% LTV with a £1,499 fee
- A two-year discounted rate at 2.99% up to 75% LTV with a £999 fee
- A three-year discounted rate at 3.29% up to 75% LTV with a £999 fee, available to both individual and limited company landlords
- A limited company landlord five-year discounted rate at 2.49% up to 75% LTV with a £1,499 fee
- A limited company two-year discounted rate at 2.99% up to 75% LTV with a £999 fee.
Enhanced criteria
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. In addition to the new products, the lender offers a range of holiday let buy-to-let mortgages.
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.”
