Yorkshire BS extends B2L across England and Wales
Yorkshire Building Society has expanded its buy-to-let proposition meaning it will now lend on properties throughout England and Wales.
The building society entered the buy-to-let market in August 2011, offering a range of products through its intermediary lending subsidiary Accord Mortgages, initially in London and the South East.
Since August, the building society has gradually expanded its panel and added more products to the range.
It has also made a number of changes to its criteria, including a reduction in the minimum property value it will accept from £150,000 to £100,000.
YBS has also reduced the minimum applicant age from 30 to 25 and the minimum income for an applicant from £35,000 to £20,000. The 40-mile distance limit between the borrower and the property has also been lifted.
YBS head of buy-to-let Jeremy Law says: “We have always been open about our intentions to roll-out our buy-to-let offering to a wider geographical area and the expansion across England and Wales will represent the next step in our staged entry into buy-to-let.
“We have taken the last few months to ensure our processes are in place and to seek feedback from our lending partners, which has resulted in a review of our criteria and a number of key changes.”