The Business Mortgage Company, the Cardiff-based commercial and buy-to-let packager, has launched a range of sub-prime buy-to-let mortgages, offering deals with no higher lending charges and flexible criteria.
The products, available in conjunction with Rooftop ICMG, are aimed at clients with impaired credit histories. The criteria include ignoring defaults, no paper proof of employment status for self-cert applications, no rental cover on 80% LTV schemes and a flexible approach to County Court judgements and bankruptcy.
John Olney, head of buy-to-let lending at TBMC, says: We have been looking forward to offering sub-prime mortgages to brokers, thus enabling a wider range of clients to make buy-to-let purchases. This addition to the TBMC product range will offer a greater choice and more business opportunities to our introducers.