Skipton International has increased its maximum LTV on buy-to-let mortgage products to 75%.
Skipton International has increased its maximum LTV on buy-to-let mortgage products to 75%.
The previous maximum LTV was 70%, and this increase applies on all loans up to £1m.
It will also be allowing existing applicants who have already applied for a 70% loan to increase to 75%, subject to relevant criteria being met.
As well as this, the lender has extended its UK buy-to-let offering non UK residents who intend to live in the property at a future date.
This would appeal to expats and other investors who wish to purchase a UK property on an initial buy-to-let basis, but who have the intention of returning to live in the property themselves on a longer term basis thereafter.
The applicant or family member cannot occupy the property during the original three or 5-year tracker or fixed rate product period.
Roger Hughes, business development manager at Skipton International, said: “The last year has seen unprecedented challenges in the market.
"With the current Stamp Duty Land Tax holiday extension, demand for UK property remains high and our enhancements will give greater flexibility to non-UK residents wishing to purchase buy-to-let property in the UK.
“At Skipton International we are always looking at ways to adapt and improve our proposition.
“There is a lot of optimism in the property market at the moment and we are expecting a busy next few months.”
