Specialist broker Mortgages for Business has commenced an exclusive three-week pilot for new buy-to-let lender Axis Bank.
The pilot will run until 27 April when the bank opens its doors to lending via a restricted panel of specialist intermediaries.
Targeting experienced landlords with both a standard and specialist range, the rates are priced starting at 3.79 per cent for a two-year fixed rate to 75 per cent loan-to-value with a fee of 1.5 per cent.
Steve Olejnik, sales director at Mortgages for Business, said that Axis’ new online submission platform is easy to use and should help smooth the application process.
“In addition to standard buy to lets, it has been designed to handle more complex propositions including limited companies and HMOs.”
The criteria includes no minimum income requirements, unlimited numbers of mortgaged properties with other lenders, loans up to £1m, lending to limited companies and expat landlords, HMOs up to six beds, and multi-unit freeholds up to five units.
Brokers with potential cases to place with Axis during the pilot phase are encouraged to contact the deal placement team at Mortgages for Business to get more detailed information and to talk through pricing options.
peter.walker@ft.com
