{"id":5025526,"date":"2019-08-28T09:30:59","date_gmt":"2019-08-28T08:30:59","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5025526"},"modified":"2023-10-27T10:33:19","modified_gmt":"2023-10-27T09:33:19","slug":"borrow-more-for-less-lenders-relax-rules-for-buy-to-let-landlords","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/08\/28\/borrow-more-for-less-lenders-relax-rules-for-buy-to-let-landlords\/","title":{"rendered":"Borrow more for less: lenders relax rules for buy-to-let landlords"},"content":{"rendered":"

Relaxing mortgage rules and falling interest rates are giving portfolio landlords a boost, as lenders battle for their custom.<\/strong><\/p>\n

As the number of smaller and accidental landlords declines<\/a> due to the government’s withdrawal of tax breaks and the proposed withdrawal of no-fault evictions<\/a>, lenders are increasingly focused on attracting portfolio landlords onto their books.<\/p>\n

Landlords could borrow 50% more<\/h4>\n

BM Solutions, part of the Lloyds Banking Group and one the country\u2019s two largest buy-to-let providers, has relaxed its lending rules to offer greater choice and flexibility for landlords. An increase of the maximum loan value from \u00a32m to \u00a33m means landlords could borrow up to 50% more, and although the portfolio limit remains unchanged at ten properties, landlords can now hold a maximum of five buy-to-let mortgages with the lender.<\/p>\n

Phil Rickards, head of BM Solutions, said: \u201cWith improvements delivered to our portfolio underwriting proposition, now is the right time for us to take our next step to bolster the BTL market.”<\/p>\n

Falling buy-to-let rates<\/h4>\n

According to the latest industry tracker report from Property Master, the majority of fixed-rate buy-to-let mortgage<\/a> rates are continuing to fall, particularly for those with a lower loan to value (LTV). The report tracks the cost of mortgages from 18 of the largest buy-to-let lenders. It found that the monthly cost of a five-year fixed-rate mortgage with a 50% LTV fell by \u00a313 and rates for a 65% LTV fell by \u00a35. Two-year fixed rates fell by \u00a32 per month on 65% LTV mortgages and \u00a31 on 75% LTVs.<\/p>\n

Angus Stewart, chief executive Property Master, said:<\/p>\n

\u201cThere have been a slew of rate cuts amongst lenders along with new offers being launched that are looking very attractive to landlords wanting to expand their portfolios or needing to remortgage.”<\/p><\/blockquote>\n

He added: “Good news on rates may well entice some landlords back into the market by helping them offset the many recent regulatory and tax costs they have been struggling to absorb.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Relaxing mortgage rules and falling interest rates are giving portfolio landlords a boost, as lenders battle for their custom. As the number of smaller and accidental landlords declines due to the government’s withdrawal of tax breaks and the proposed withdrawal of no-fault evictions, lenders are increasingly focused on attracting portfolio landlords onto their books. Landlords… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":8734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,26],"tags":[412,15],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5025526"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=5025526"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5025526\/revisions"}],"predecessor-version":[{"id":6097877,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5025526\/revisions\/6097877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/8734"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=5025526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=5025526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=5025526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}