View more on these topics

Leeds ready for PRA portfolio buy-to-let changes


Leeds Building Society says it is ready for new buy-to-let lending rules concerning portfolio landlords coming in next month. 

The lender is not ready to reveal the precise criteria it will use, but today confirms it will accept portfolio applications from 30 September. 

Leeds also says it will not change its existing LTV limits, maximum loan size, interest coverage ratio or stress rates. 

The building society will define a portfolio landlord as a borrower who has four or more mortgaged rental properties.  

A Leeds statement says the lender’s underwriting approach will depend on the complexity of each case. 

Portfolio landlords will also be expected to give details of their assets and liabilities, as well as declare future investment property intentions. 

Further information, such as cash flow, will be requested only in more complex cases. 

Building Society director of product and distribution Jaedon Green says: “We’re committed to supporting landlords and the buy-to-let market so will continue to accept mortgage applications from portfolio landlords after 30 September.”  

Green adds that the lender recognises the growth opportunities in portfolio buy-to-let, which is why it recently lifted its maximum portfolio size from eight to 10 mortgaged rental properties.



Paradigm launches portfolio landlord crib sheet for brokers

Paradigm Mortgage Services has launched a factsheet drawing together information on all buy-to-let lenders who have announced how they will underwrite portfolio landlords from 30 September.   On that date the Prudential Regulation Authority will bring in stricter underwriting requirements for landlords with four or more mortgaged properties.  Many lenders have announced how they will handle […]


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 […]


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 […]


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


News and expert analysis straight to your inbox

Sign up