Maisam Fazal

Al Rayan launches BTL purchase plan

Al Rayan Bank has launched a limited company buy-to-let purchase plan (BTLPP).

The new product — which allows landlords to purchase their investment properties in a more tax efficient way — is being offered to customers at a variable rental rate of 3.89% and a fixed rental rate of 3.99%.

The Islamic bank is offering maximum finance-to-value (FTV) on rent and acquisition products of 75% as well as 65% FTV on rent-only.

“The new limited company BTLPP broadens our offering and helps us to ensure we provide a full suite of products for landlords,” said Maisam Fazal, chief commercial officer at Al Rayan Bank (pictured above).

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