Lenders to target buy-to-let market

Lenders to target buy-to-let market

Two lenders are making a play for the buy-to-let mortgage market, with the launch of new products aimed at landlords and property investors.

Both Bank of Ireland and Permanent TSB are launching new residential investment loans this month, responding to an increase in demand from borrowers for loans to finance property investment.

According to both banks, the number of enquiries from investors about buy-to-let finance have increased recently.

Bank of Ireland is launching a new five-year interest only product for buy-to-let investors with a loan to value (LTV) under 50%. The bank will also provide an interest only option for one year to buy-to-let customers with LTVs up to 75%.

Permanent TSB also confirmed that they would be launching new products before Christmas.

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