Pepper launches buy-to-let affordability calculator
Pepper Money has launched an online buy-to-let affordability calculator to provide brokers with accurate calculations of how much their clients are able to borrow.
Last week the specialist lender launched a range of 2- and 5-year fixed rate buy-to-let mortgages for limited companies, with a rental calculation of 125% at the pay rate on 5-year fixed rates and the higher of the initial rate +2% or 5.50% on 2-year fixed rates.
Pepper Money also cut rates across its buy-to-let range and launched an option for free valuations on purchases and remortgages.
Paul Adams, sales director at Pepper Money, said: “The private rental sector has established itself as a significant contributor to the UK housing stock and so there will continue to be opportunities for landlords to make good investments in buy-to-let.
“Pepper Money’s new buy-to-let affordability calculator will help make the process easier for brokers to find the right deal for their clients and our limited company buy-to-let range will offer new options for the growing number of landlords who choose to hold their investment in an SPV.
“The new year is just a few weeks old and we have already made a number of improvements to our products and proposition at Pepper Money. This is a signal of our intent for 2020 as we will continue to increase our lending, work with more brokers, and help more customers achieve their objectives.”