Habito, the online mortgage company, is pleased to announce today the expansion of its comprehensive range of buy-to-let purchase and remortgage products with up to 75% loan-to-value (LTV).
Fixed rates are available from 2 to 10 years, with pricing starting at 3.14% for a 2-year, or 3.94% for a 10-year fixed-rate mortgage and its range includes fee assist products. Habito’s mortgages are available for customers buying either in their own name or as a limited company.
As the housing market slowly and safely restarts, Habito is now also instructing physical valuations in England, where possible. External brokers can check for updates via their dashboard on the Habito for intermediaries portal at Habito.com/intermediaries.
Habito has also lowered its minimum valuation cap for outside of London to £50,000, from £75,000, and removed the maximum number of background properties for portfolio landlords. As previously was the case, Habito’s criteria include no minimum income and is open to first-time landlords.
Habito launched its first range of BTL mortgages in 2019. This year, Habito partnered with Connect for Intermediaries, followed by Impact Specialist Finance, Dynamo for Intermediaries, and Mortgage for Business, to distribute its extensive range of products. The customer-focused lender has continued to offer its products throughout the lockdown, albeit with more restrictions in place, until today.
Habito designed its buy-to-let offering with speed and certainty at its core. Its intermediary broker portal features Habito’s ‘Instant Decision’ which allows a broker to check a client’s information against its full credit and affordability policy and run an Automated Valuation, soft credit check, and KYC simultaneously. Its Instant Decision gives unrivaled certainty to customers, surpassing the industry’s Decision in Principle (DIP) which only checks a subset of criteria and nothing on the property. With Habito’s Instant Decision and other time-saving technology, customers can expect their mortgage offer within 10 days versus an industry average of 21 days.
The portal also provides advisers with automated feedback so that when a customer doesn’t fit into Habito’s policy, this is flagged early and a suitable alternative can be found. For portfolio landlords who have to manage heavy loads of administrative work, Habito has designed a fully downloadable ‘Portfolio Checker’ which helps to cut through the time spent on paperwork.