Loughborough Building Society updates BTL product range


Loughborough Building Society has updated its buy-to-let (BTL) offer to incorporate feedback from brokers and customers.

The updated BTL lineup includes Vacation Rental, Family BTL, Business and Consumer BTL, and Rent-to-own.

The vacation rental product is available for the purchase or re-mortgage of properties in England and Wales which are used for short-term vacation rental, including Air BnB.

The two-year 75% fixed loan-to-value (LTV) rate is 3.29% with a completion charge of £499.

For the BTL family, fixed and reduced rates are available for the purchase or re-mortgage of properties in England and Wales which are let to close family members.

At 80% LTV, discounted standard variable rate (SVR) rates start at 3.24% for three years with a free standard assessment and no completion fee.

Fixed and reduced BTL rates for businesses and consumers are available for the purchase or re-mortgage of properties in England and Wales, including first-time buyers and first-time owners.

80% LTV, SVR reduced rates start at 2.79% for two years with a free standard evaluation and no completion fees.

The rent-to-own offer has also been included in the range after the company saw an increase in the number of applicants who want to secure their next residence while maintaining their existing property.

Ashley Pearson, National Business Development Manager for the Loughborough Building Society, says: “I really like our BTL proposition, the fact that we offer family BTLs and vacation rentals, both with fixed rates, and allow first buyers up to 80% LTV allows us to provide solutions for even more investors.

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