Heritable enhances product range
For buy-to-let investors, the maximum amount they will be able to borrow has been doubled from £5 million to £10 million, enabling some investors to incorporate their entire portfolio within the one loan.
Heritable Bank has also increased the maximum amount an applicant for a self-cert mortgage can borrow from £1 million to £1.5 million, to cater for some of the larger mortgage amounts now required.
Colin Stevens, head of retail lending at Heritable Bank, commented: “The changes in our lending reflect our positive outlook and confidence in the buy to let market for the rest of 2006.
“The early part of the year has shown a renaissance in the buy-to-let market and the changes to our criteria provide an enhanced lending facility to the large-scale buy-to-let investor. The change to our self-cert mortgage lending criteria positions us to cater for both entry and higher level business in this market.”