View more on these topics

TSB begins piloting its buy-to-let proposition

TSB is piloting its buy-to-let proposition with London & Country ahead of a wider roll-out later this year.

However, the lender says it has not yet decided when it will extend the distribution of its buy-to-let range.

TSB intermediary director Roland McCormack says: “We’re currently piloting our buy-to-let mortgages through London & Country. The team there are offering great support in helping us iron out any creases before we roll out more widely.

“Following the success of our homebuyer and remortgage roll outs, this marks the next phase of our strategy to provide brokers with a different sort of intermediary service.”

London & Country director Pat Bunton says: “We are very happy to be working with TSB following a hugely successful mainstream residential launch. It is great to have a new lender with some lending appetite operating in this space.”

The lender opened up its residential distribution to nine major distributors and 73 directly authorised firms in January, following a pilot with L&C.

TSB, which last month confirmed it had been bought by Spanish bank Sabadell for £1.7bn, was created in September 2013 when Lloyds Banking Group floated 631 branches to comply with European Commission requirements.

It took a 0.7 per cent share of the market in 2014, its first as a standalone lender, having lent a total of £1.47bn.

Recommended

Data-Corporate-Finance-Business-Pen-Graph-Growth-700x450.jpg

Packagers team up to track bridging sector

Packagers have joined forces to launch a new quarterly series highlighting lending trends in the bridging sector. The companies involved include Brightstar, Enness Private Clients, Positive Lending, SPF Shirt Term Finance and bridging lender MTF. Its first report, published today, shows 69 per cent of loans written in the first quarter were unregulated. The average […]

London-Penthouse-House-Terrace-Nice-View-700.png

Non-dom plans are ‘negative’ and ‘misguided’

Plans to end tax loopholes that allow individuals to claim non-domiciled status have been labelled “negative”, “misguided” and a threat to the London housing market. Last week, Labour announced proposals to stop people claiming non-dom status and party leader Ed Miliband said the action would raise “hundreds of millions” of pounds in tax revenue. However,  […]

Crystal Specialist Finance

Crystal Mortgages rebrands as Crystal Specialist Finance

Packager Crystal Mortgages has rebranded as Crystal Specialist Finance. The Midlands-based firm has identified five areas in operates in – mortgages, bridging, commercial mortgages, development funding and second charges – and has created a specialist team for each. Managing director Joe Breedon says: “The business was founded 36 years ago, since which time Crystal has […]

A funny old year

The past 12 months have been turbulent – just take a look at this chart of the FTSE 100 over the last year. There have been some points which I’m sure would have caused your clients some concern, and possibly even had them looking for an alternative investment with reduced volatility; perhaps without reducing their […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Will Reid 15th April 2015 at 9:41 am

    Please tell us what most brokers want to know. Maximum number of Buy To Lets allowed with TSB factoring in existing portfolio size?