Category: Buy-to-let
These measures will also apply Nationwide Building Society’s buy-to-let arm, The Mortgage Works.
The society’s full product transfers product range remains available.
With immediate effect, the society has limited lending to 80% LTV across its range of residential mortgage products and imposed restrictions on all new buy-to-let business.
This confirms the situation for all business submitted up to and including Thursday 26 March.
Since the Bank of England cut the base rate on 11 March, some lenders have chosen to exit the BTL mortgage market altogether for the foreseeable future.
SimplyBiz advisers’ can now access to the society’s range of residential, buy-to-let, self-build and retirement interest-only (RIO) mortgages.
The lender has launched the form in tandem with other measures aimed at helping brokers and borrowers.
Roma Finance has operated in the UK bridging finance market for over a decade.
Landbay used broker focus groups to test the system and recommend changes.
The RLA and NLA are pleased that the government has ensured that Local Housing Allowance is guaranteed to cover at least 30% of market rents in a claimant’s area.