Wednesday, October 12, 2016
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Axis Bank is a specialist buy-to-let lender providing mortgages for landlords with at least three rental properties and two years’ experience.
The bank has one of the most generous buy-to-let rental calculations enabling landlords to secure larger mortgages.
When a client opts for the longer term fix the rental calculation improves to 125 at 3.99% enabling them to borrow up to £360,000 if a property generates £1,500 rent each month. With the two-year fix, the maximum loan size is £288,000.
Aaron Strutt, product director at Trinity Specialist Finance, says: "If you are a professional landlord struggling to find a lender to offer you an expat, limited company or HMO mortgage, Axis has a range of options.
“The bank also has a generous policy for holiday let mortgages as it uses the value on the standard Assured Shorthold Tenancy rather than the occupancy levels.”
Larger buy-to-let loans and expat mortgages
Axis Bank can provide mortgages up to £2 million for clients at lower loan-to-values providing they have a clear credit history.
The bank has a range of fixed and variable rates available for landlords with a 25% deposit. The lowest two-year fixed rate is 3.49%, and it has a 1.5% arrangement fee. After the fixed rate period, the mortgage reverts to LIBOR + 5%.
It will lend to expats living and working overseas proving they earn at least £40,000 each year and they are not in a country on the official sanctions list. Like many other lenders, it will not lend to clients in America.
Axis is India's third-largest private-sector bank, and its UK head office is in London. The parent company is in Mumbai although it has nine international offices and over 50,000 staff.
Mortgage applications are agreed by underwriters in the UK and not referred to India.
To secure a professional landlord mortgage, call Trinity Specialist Finance on 020 7016 6151.
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