Vernon reintroduces top-slicing on BTL products
Vernon Building Society has reintroduced top-slicing to its buy-to-let (BTL) proposition to offer more flexibility to landlords with a personal income.
The lender has also increased its maximum loan-to-value (LTV) on buy-to-let, back to 75% from 70%, and launched two holiday let products.
The holiday let mortgages are 3-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 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.”