This will be the 16th build-to-rent site and second in Birmingham for the Legal & General build-to-rent fund, with this development taking its total investment in the sector to £2.1bn.
Propp specialises in bridging finance and commercial mortgages, and hopes to simplify the process for borrowers and brokers whilst driving competition amongst lenders.
The MMA launched earlier this year to provide a collaborative voice for the mortgage industry in promoting the availability of mortgage lending and the value of professional advice.
PayProp has warned that landlords and agents should prepare for an increase in rental arrears over the festive period.
All products in Pepper Money’s BTL range are available to both individual investors and limited companies.
The latest launch follows news that the BTL market remained buoyant in Q3 of this year, with many landlords looking to take advantage of the stamp duty holiday.
Paragon Bank has added to its buy-to-let (BTL) product range by launching a 5-year fixed-rate for larger loans.
Castle Trust Bank has extended the 0.25% rate reduction on its term products until the end of the year.
Weekly BTL mortgage ESIS documentation figures are currently at 95.2% of the year’s highest figures.
It is only available for buy-to-let and the minimum loan amount is £1m, with the maximum being set at £15m.