View more on these topics

Platform stops lending to portfolio landlords

House-Keys-Mortgage-Estate-Agent-700.jpg

Platform has stopped lending to portfolio landlords in advance of the PRA tightening underwriting rules for the class.

The Co-operative Bank’s intermediary arm made the criteria change earlier this week.

A Platform statement says: “From 28 August we will not lend to individuals who own/will own more than 3 BTL properties (mortgaged or not), including the application security.

“This decision follows the PRA supervisory statement SS13/16 in relation to underwriting standards for portfolio landlords.”

Earlier today the Co-op reduced rates on select mortgage products, with all 90 per cent LTV fixed deals reduced by 0.25 per cent.

The lender says the reductions will “result in some of the lowest rates available on the market.”

Recommended

Money

Foundation drops £500 fee for LTD Co buy-to-let

  Foundation Home Loans has dropped its £500 processing and administration fee for limited company buy-to-let applications. The move takes place today. Foundation says it has axed the fee as more landlords are going down the limited company route.  Foundation Home Loans marketing director Jeff Knight says: “We are constantly reviewing our proposition to ensure […]

Hunt-Bob-2017-CUT

Technology must ease broker buy-to-let burden: Bob Hunt

Standardisation within the lender market has always been something of a tricky ask, certainly when it comes to the introduction of new regulatory rules. Over the years, lenders have often chosen to interpret new rules very differently – as is their right – however widely varying approaches does mean that advisers need to get to […]

Rental-Contract-Pen-Paperwork-Mortgage-700.jpg

Accord launches new buy-to-let mortgages at 60% LTV

Accord Buy To Let has today launched new mortgages for landlords with a 40 per cent deposit. The new options include a two-year fix at 1.64 per cent for remortgaging landlords or those expanding their portfolio. It has a £1,995 product fee, £550 cashback on completion and free standard valuation. The lender has also reduced […]