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Monday, June 08, 2015

Axis Bank added to our buy-to-let panel

Property Hawk Mortgages has added Axis Bank to its buy-to-let panel. 

Axis Bank has entered the UK buy-to-let mortgage market for the first time and is offering its products through specialist buy-to-let distributors only including Property Hawk Mortgages.

Andy Young at Property Hawk Mortgages, commented: 

“It is exciting to see Axis Bank entering the buy-to-let market, especially as the sector is growing and the demand from landlords is strong. Currently, competition between lenders is increasing, pushing rates down and there is a large number of excellent products available for mainstream buy-to-let applications.

“However, there is definitely still room for improvement in niche areas of the buy-to-let mortgage market such as for HMO properties, Limited Companies and Ex-pat applicants. This is where Axis Bank will be a particularly useful addition to our lender panel with its specialist product range and a flexible approach to underwriting.”

Axis Bank product range highlights include:
  • Loans for experienced landlords with at least 3 existing buy-to-let properties
  • Unlimited portfolio size elsewhere considered, although maximum 5 loans with Axis
  • Up to 75% LTV
  • Maximum loan size £1m
  • Rental calculation on 5 year product at 125% based on pay rate (4.09% on Standard product and 4.59% on Specialist product)
  • Standard product range for individuals and their property requirements
  • Specialist product range for more complex requirements, including purchases through Limited Companies, Houses in Multiple Occupation (HMOs) or Ex-Pat borrowers
  • No minimum income requirement
  • A range of product options, including longer term fixed rates to fit individual needs
  • Available for properties in London and South East
  • Refinance within 6 months of purchase considered
  • All cases individually assessed.
Tel: 029 2069 5446

1 comment:

Blah said...

Looks very good for HMOs, but a real shame that they'll only lend in London and the south-east. I wonder what commercial rationale went into that. Does anyone know if they're planning on expanding nationwide at some point?