New BTL product contains bridging and mortgage
By |Published On: 24th January 2012|

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New BTL product contains bridging and mortgage

By |Published On: 24th January 2012|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

An exclusive buy-to-let initiative from 3mc, leading mortgage club and packager, will contain both bridging and mortgage for its customers.

How the product works

Aimed specifically at developers, along with professional landlords, the product is simple but effective in its makeup.

One lender forms the bridging element, essentially enabling the purchase to happen. The second lender is responsible for the remortgaging element of the product. This is crucial in allowing the investor to be comfortable in the knowledge that funding is in place at the end of the bridging period.

The innovative product has received backing from Aldermore for the remortgage aspect and Precise for the bridging aspect. Managing director of Precise Mortgages, Alan Cleary, is excited with the prospect of the product. Cleary said that his company, ‘believe this will be a very attractive product for many property investors.’ [1]




About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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