GE Money Home Lending grows buy-to-let range

GE Money Home Lending, one of the UK’s leading specialist lenders, is ramping up its presence in the Buy-to–Let market by introducing a new range of Buy-to-Let products.

The range, which will be available from 15 June, now combines some of the top features required by today’s Buy-to-Let investors – good rates and terms, flexible product options, as well as key features such as initial rate rental calculation and 100% rental income up to 85% LTV.

Buy-to-Let has already seen significant growth so far in 2007 and research by GE Money earlier this year suggests that this trend is set to continue, with 75% of UK mortgage brokers claiming that Buy-to-Let will be a key driver for growth for them throughout 2007.

The new First National Buy-to-Let products fulfil a wider set of customer requirements such as fixed term length or base rate focus, and completion fee flexibility. The products are as follows:

Two and five year fixed, join our existing three year product
New tracker rate introduced to the portfolio
Low completion fee option for greater customer choice

Gerry Bell, Head of Mortgage Marketing, GE Money Home Lending said: “Following the successful launch of our first Buy-to-Let range in November we are now beginning to add more products based upon key trends in the marketplace. We know that due to rising interest rates, fixed rate deals continue to fly off the shelves – particularly two year deals. We believe these additions to the range offer a compelling mix of price, term and flexibility for Buy-to-Let customers. We expect the range will be very popular, helping us to continue growing our presence in the Buy-to-Let market.

“With affordability constraints on first time buyers getting onto the ladder, 2007 looks like being the year of the landlord. It is therefore crucial that providers are developing products which serve the needs of Buy-to-Let customers. We have looked carefully at the market and feel that adding two new fixed rate products gives us great coverage across the range of borrower needs.”