Mortgages for Business adds portfolio buy-to-let criterion to calculator

Mortgage Introducer

November 29, 2017

Mortgages for Business has updated its online buy-to-let mortgage calculator and rate finder to allow users to search and compare products that are available to portfolio landlords.

At the end of September 2017 new guidelines were issued by the Prudential Regulation Authority requiring lenders to adopt a specialist approach when underwriting applications from portfolio landlords.

Jeni Browne, sales director at Mortgages for Business, said: “Our buy-to-let calculator is used several thousand times a week which shows that investors like to do their own research before consulting a broker.

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“We feel it’s imperative that portfolio landlords can identify the rates that are available to them – currently around two-thirds of all buy-to-let products.”

Users of the calculator and rate finder can also identify products for more complex borrowing scenarios including HMO properties and products for landlords using limited companies as the borrowing vehicle.

And around half a dozen lenders chose not to enter the portfolio buy-to-let lending sector.

 

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