Crystal Specialist Finance launches semi-exclusive BTL products with West One
Crystal Specialist Finance (CSF) has launched a range of buy-to-let (BTL) semi-exclusive products with specialist lender West One.
The range includes improved options for first-time landlords, houses of multiple occupancy (HMOs), multi-unit freehold blocks (MUFBs), expats, holiday and Airbnb lets.
The products are aimed at both individuals and limited companies, and rates start from 3.79% up to 70% loan-to-value (LTV) with a maximum loan of £500,000.
In addition, this new range provides: 125% debt-service coverage ratio (DCSR) up to 70% LTV for limited companies/LLPs and lower rate taxpayers; rental Stress calculation based on a rate of 5% or pay rate of a 5-year fixed product – starting from 3.99%; no maximum property value.
For remortgages there are reduced legal fees and faster completions up to £500,000.
Properties owned for less than six months, high rise flats over five storeys, ex-local authority flats and deck access flats will be considered.
Jason Berry (pictured), interim group sales director at CSF, said: “During lockdown, West One have certainly been there for Crystal and our brokers.
“They have continued to underwrite and take a pragmatic view on cases which has ensured our brokers have been able to serve their customers through these incredible times.
“These new products underline the strength of the relationship we have and we are sure they will prove popular and provide greater options for property investors.”
Andrew Ferguson, managing director, BTL at West One Loans, said: “We are pleased to offer these attractive products to a selection of our master broker partners, including Crystal.
“It’s been a challenging few months but we have continued to work closely with our key distribution partners, supporting the specialist needs of landlords and are confident our product tweaks will help continue the recent trend we are seeing of growing enquiry and application volumes.”