New buy-to-let mortgage club for brokers could benefit landlords

A new club for mortgage brokers has been launched, offering landlords the chance of exclusive deals.

The Buy to Let Business has launched the club, thought to be a first in the mortgage industry.

Apart from exclusive mortgage deals, a major feature is a help-desk where brokers can discuss potential lenders for individual cases.

The Buy to Let Mortgage Club has announced its first exclusive deal, via a strategic partnership with Hinckley and Rugby Building Society.

It is a 3.84% two-year discounted mortgage, available up to 75% LTV.

Although it comes with a hefty £1,999 arrangement fee, it has a free valuation, no early repayment charges and no defined minimum income.

Ying Tan, managing director of The Buy to Let Business, said: “We aim to inject fresh energy and innovation in this booming sector.

“The exclusive with Hinckley and Rugby Building Society demonstrates their commitment and hunger to penetrate the buy-to-let market. ”

Carolyn Thornley-Yates, business development manager at Hinckley and Rugby Building Society, said: “We are sure customers will benefit from this new alliance which marries the expertise and knowledge of the Buy to Let Business with the individual approach to underwriting favoured by Hinckley and Rugby Building Society.”