During September we made you aware of the introduction of new underwriting rules affecting BTL’s. These rules came into force 30 September 2017 so what has changed?
We haven’t noticed any change in demand for BTL loans even though lenders have implemented all the necessary changes to their processing of enquiries.
Remember any BTL mortgage applicant who owns 4 or more properties will be classed as a “portfolio landlord” – meaning they face more stringent checks when applying. This is likely to include a requirement for more evidence to support their application in particular around affordability and expertise. Click here to read more info on what is required.
For more information on BTL funding talk to a Promise Money Adviser on 01902 585020.