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Coventry unveils portfolio landlord lending plans


Coventry for Intermediaries has released the details of how it will underwrite portfolio landlord applications from September.  

The lender will bring in a downloadable form  for portfolio applications. 

This will capture information including the value of each mortgage, monthly mortgage repayments, monthly rental amounts and estimated property values. 

Coventry will apply a maximum LTV of 65 per cent across the whole portfolio. 

The firm will set a minimum ICR of 125 per cent across the whole portfolio, including properties mortgaged with other lenders. It will use a reference rate of 5.5 per cent. 

No single property will be allowed below an ICR of 100 per cent. 

Portfolio landlords must have acquired their first buy-to-let property more than 24 months before the current application.  

No more than three properties should have been bought within the last 12 months. 

Coventry for Intermediaries director of intermediaries Kevin Purvey (pictured) says: “While intermediaries are adjusting to our new approach to portfolio landlords, we will of course be here to help.  

“Brokers can visit our website for full details of the changes to lending policy and the application process, or call the intermediary support team.”



BM Solutions confirms commitment to portfolio landlords

BM Solutions has confirmed it will accept portfolio landlord applications later this year and will educate brokers about incoming regulatory changes.  The Prudential Regulation Authority will require stricter buy-to-let lending standards for portfolio landlord applications from 30 September.  BM Solutions has confirmed it will lend to landlords with four or more mortgaged properties under the […]

OSB to use eTech platform for portfolio landlord applications

OneSavings Bank has partnered with property risk software developer eTech in advance of the PRA’s portfolio landlord underwriting standards changes. The technology is intended to help the specialist lender to implement a ‘streamlining portfolio stress testing and income coverage ratio assessment to provide a rapid response to loan applications.’ The system, designed with input from […]

Accord announces portfolio landlord criteria ahead of PRA changes

Accord has become the latest lender to reveal details of its lending criteria for portfolio landlords ahead of the PRA underwriting standards changes. The intermediary arm of Yorkshire Building Society will assess the financial strength and competency of a portfolio landlord by taking into consideration their experience in the buy-to-let market, their full property portfolio […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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