Hodge Bank has announced that it will extend its portfolio buy-to-let offering to the broker market for 16 July.
Originally the offering, which has an initial five-year fixed rate of 4.2 per cent, was launched in May 2019 through limited distribution.
According to the lender, the product is for landlords with four or more residential properties, has a minimum loan size of £250,000, a maximum loan term of 25 years, and reverts to the bank’s SVR once the term ends.
Hodge Bank managing director of mortgages Matt Burton says: “Hodge portfolio BTL was the result of extensive feedback from our customers, the decision to make this product available through intermediary networks is in response to the number of enquiries we have received.
Legal & General Mortgage Club head of lender relationships Danny Belton adds: “Hodge has shown before it is not afraid to enter into new markets and done so with a good degree of success.
“This new BTL offering [is] a proposition that offers much-needed criteria to certain areas of this market and will add value to landlords and advisers alike.”