The Cambridge announces extended Buy to Let lending with Sesame and PMS
30 April 2019 • Products & Services
The Cambridge Building Society today announced that it will be taking its comprehensive landlord proposition to a wider audience, by partnering with Sesame and PMS to offer it’s Buy to Let range of mortgages across England and Wales.
The announced partnership with Sesame and PMS is an exciting addition to The Cambridge’s landlord proposition, and working closely with Sesame and PMS to offer its Buy to Let range of mortgages naturally supports The Cambridge’s ongoing managed growth strategy.
This extension is supported by a competitive mortgage range. On their 5 Year Fixed BTL mortgage product, applications will be assessed using a stress rate of 4.59 with rental coverage of 125% on BTL like for like remortgages. In addition to this their BTL mortgage range comes with no cap on the number of properties within their overall portfolio and no upper age limit for applicants.
Kathy Bowes, Intermediary Manager at The Cambridge said: “The announcement to work with Sesame and PMS is a natural progression for us at The Cambridge. Sesame and PMS are one of our largest partners which supports our overall strategy to grow our mortgage book. We want to maintain our high standards when it comes to what we can offer and we know that intermediaries and partners value a considered, personal approach to underwriting. We are looking forward to maintaining the strong proposition we can offer to more landlords whilst maintaining these standards.
“Our continued investment and development of our lending proposition demonstrates we’re committed to the private rental market and helping people have a home. My Business Development and Mortgage Adviser teams are looking forward to talking to intermediaries and borrowers about any cases they may have.”
Jane Benjamin, Director of Mortgages at Sesame and PMS, commented: “We are very pleased to support Cambridge Building Society’s growth strategy and we welcome this expansion, which means that more of our PMS Mortgage Club and Sesame Network members will benefit from access to The Cambridge’s range of mortgage products.”