Brightstar launches BTL products with no ERC
Brightstar Financial, the national intermediary hub for specialist lending, has launched two exclusive BTL products with no Early Repayment Charges (ERC) in partnership with Saffron Building Society, the largest building society in the East of England.
The products, which are suitable for purchase and remortgage, have maximum LTV’s of 75% and 80% respectively and priced at 4.75% and 5.25%, based on a 3 year discounted rate followed by SVR for the remainder of the mortgage term.
According to Rob Jupp, Managing Director at Brightstar Financial, the BTL market has a lot to offer brokers this year.
He said, “ BTL is a bright spot in a pretty flat market and thanks to our relationship with Saffron Building Society I am delighted we are able to bring to market two products which will give landlords the kind of flexibility we are constantly asked for by our introducers. Not only is there a good rate discounted against SVR, but also there are no early redemption charges, which means that clients are not at the mercy of interest rate shifts when they come. On top of that we have the kind of underwriting capability at the Saffron, which should act as a template for intermediary lending throughout the industry.”
John Eastgate, Sales & Marketing Director at Saffron Building Society commented, “ We are great believers in the value of relationships. Brightstar Financial has proved to be an outstanding partner and we are delighted to be working with them to design products, which reflect the needs of the market while maintaining sustainable and sensible lending parameters.”