Aldermore prepares for PRA changes
Aldermore has made documents available to brokers and landlords to prepare for the implementation of PRA buy-to-let underwriting standards.
The documents should show landlords and brokers what will be required to make the process as smooth as possible.
Charles McDowell, commercial director of Mortgages at Aldermore, said: “We recognise there are big changes afoot and as a business we have focused our attention on ensuring our brokers are best placed to meet these required changes.
“We want to give them and their portfolio landlord clients as much time as possible to understand what is required in light of the new rules which is why we have published these new documents ahead of the deadline to give them this peace of mind.
“We want to assure our broker partners that we remain committed to the buy-to-let market by doing everything we can to support portfolio landlords when the changes are implemented.”
Documents that will be required for portfolio buy-to-let applicants after the changes include a business plan, portfolio schedule and statement of assets and liabilities.