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Castle Trust announces portfolio landlord lending approach


Castle Trust has announced how it will approach underwriting portfolio landlords when new PRA rules come in from 30 September. 

Brokers will have to fill in a portfolio landlord statement for clients with four or more mortgaged properties.  

This will include an asset and liability statement, property schedule and business plan. 

The lender will then apply varying stress rates: 


 Castle Trust group executive director Matthew Wyles says: “The PRA’s requirement for underwriters to take a proportionate approach to portfolio landlords, based on their knowledge of the borrower, is simply an articulation of sound commercial lending.  

“Castle Trust has always specialised in larger, more complex buy to let portfolios and so the provisions of SS13/16 are just business as usual for us.  

“This said, it is important that we are clear and transparent with the market and so, by laying out our approach and the portfolio rental calculations that we use, we can eliminate any element of doubt.”  

All the underwriting criteria information is also available on Castle Trust’s website.



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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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