"Maximum age for buy-to-let applicants - has been increased to 85 at the end of the term."
Jeff Knight, Head of Marketing, had this to say: “As we further strengthen our position in the UK mortgage market we are continually seeking opportunities within specific market niches. One such niche is the self employed and this is a growing opportunity for intermediaries.”
In addition to the changes in self employed criteria, the lender has also made a significant number of criteria enhancements to its range of residential and buy-to-let mortgages, in response to feedback from mortgage intermediaries.
The changes include the following:
• Minimum term - for all mortgage applications has been reduced to 5 years.
• Maximum age for buy-to-let applicants - has been increased to 85 at the end of the term.
• Remortgages - will be considered for applicants who have been registered owners for 6 months.
• BTL rental income – will now be taken into account as long as it is not the sole or primary income of the borrower.
