GEMHL launches BTL range

GE Money Home Lending has launched a range of buy-to-let products.

The range, which will be available from June 15 includes initial rate rental calculation and 100% rental income up to 85% LTV.

Gerry Bell, head of mortgage marketing of GEMHL, says: “Following the successful launch of our first buy-to-Let range in November we are now beginning to add more products based upon key trends in the marketplace.

“We know that due to rising interest rates, fixed rate deals continue to fly off the shelves – particularly two year deals.

“We believe these additions to the range offer a compelling mix of price, term and flexibility for buy-to-let customers.

“We expect the range will be very popular, helping us to continue growing our presence in the buy-to-let market.”

GEMHL says buy-to-let has already seen significant growth so far in 2007 and research by GEMHL earlier this year suggests that this trend is set to continue, with 75% of UK mortgage brokers claiming that buy-to-let will be a key driver for growth for them throughout 2007.

Bell adds: “With affordability constraints on first-time buyers getting onto the ladder, 2007 looks like being the year of the landlord.

“It is therefore crucial that providers are developing products which serve the needs of buy-to-let customers.

“We have looked carefully at the market and feel that adding two new fixed rate products gives us great coverage across the range of borrower needs.”