Online mortgage broker, Habito, has announced this morning that it has entered the mortgage market and revealed its first range of mortgages will be aimed at individual buy-to-let landlords.
According to the firm, the new range will be available to all borrowers including first-time, self-employed, retired and older landlords. Limited company and portfolio products expected to follow shortly.
Two-year fixed rates will start from 2.59%, seven-year fixed rates are available from 3.31% and ten-year fixed rates from 3.51%.
Habito revealed that no minimum income will be required for first-time landlords up to 75% LTV and there will be no minimum value or maximum LTV restrictions for ex-local authority flats. Applicants will need to show just three months of income (two-years’ proof will be required for self-employed borrowers).
The firm also pledged no discrimination against landlords with tenants who claim benefits.
Daniel Hegarty, founder and CEO of Habito said, “Habito exists to connect customers with the best possible mortgage products. For the past three years, we’ve invested heavily in our best-in-class brokerage to dramatically improve and evolve the process of getting a mortgage. Now we’re rolling up our sleeves to tackle the mortgages themselves. By applying our tech-first, people-centric principles, we’ve created a suite of mortgage products that speaks to one of the most under-served groups of borrowers: landlords.
“We exist to free people from the hell of getting a mortgage. For buy-to-let landlords, hell means long waits, inflexible eligibility criteria and application decision uncertainty. We’re proud to bring to market a range of products that have been built with landlords in mind: long-term fixed rates, competitive pricing, low deposits and sympathetic to self-employed and older customers. We guarantee certainty and speed to offer. It’s the next generation of mortgages.”