Skipton Building Society is changing its buy to let residential and commercial lending policy.
Key Features include:
Increased LTV now 85 per cent for loans up to 300,000.
For loans 300,001 and above, LTV is 80 per cent.
Reduced rental income cover now 125 per cent up to 80 per cent LTV.
Skipton head of media relations Jennifer Holloway says: “Recent figures from the Council of Mortgage Lenders show that 38 per cent of landlords are planning to increase their buy-to-let portfolios in 2005 evidence that this market is still going strong. The changes to our lending policy will make it even easier for them to get a great deal when financing their expansion. And getting a mortgage quickly and easily is certain with our award winning service.”