Criteria update: Holiday lets with Airbnb now as standard | Ipswich BS is now Suffolk – click here for  Ipswich portal tools

We’ve increased our maximum loan plus made criteria improvements

Written by Joanne Leek

7 Dec 2021

3 min read

We’ve been busy working on improvements to our product range and we’re pleased to confirm the following updates are now live:

1. Maximum loan size

  • We can lend up to £1million across the following ranges:
  • Standard residential up to 80% LTV
  • Expat residential
  • Expat buy to let
  • Buy to let
  • Holiday let

2. Family applications

We know that rising house prices means that it is sometimes necessary for family members to purchase a property together, so we’ll now consider these applicants across all products. This includes lending for expat, holiday let and second homes.

3. Buy to let indebtedness

We’ve removed our 10 times indebtedness rule and will now judge outstanding credit commitments on a common-sense basis. Our maximum portfolio size remains as three buy to let and/or holiday let properties, or 10 background properties on a residential application.

4. AST for professionals

We now allow landlords to let their property to three unrelated professionals on a single AST.

Charlotte Grimshaw, Head of Intermediary Relations, commented: “Relaxing our criteria in these four areas means that we can help with a greater number of broker cases, with clients benefitting from our common-sense approach to underwriting.”

We’re here to help, so if you’ve got a case in mind, or need to speak to us, give us a call on 0330 123 1073 (option 1)

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