The bank increased its LTVs by 5% to 85% on new build or the first sale and 80% for new build flats.
Bank of Ireland UK has loosened its lending criteria by increasing its maximum loan-to-value limits, lending age and loan size.
The bank increased its LTVs by 5% to 85% on new build or the first sale and 80% for new build flats. The bank will now also consider lending to 90% LTV for flats in modern high rise developments above good quality commercial premises.
The lender also increased its lending age to 75 for residential customers and its max loan size to £1.5m from £1m.
Finally the bank removed the £25,000 minimum income threshold on buy-to-let and now only requires two years' trading figures to verify income from the self-employed.
Alison Pallett, director of sales, Bank of Ireland for Intermediaries, said: “We’re thrilled to announce a host of lending criteria changes to make us more accessible and open up our products to more customers.
“Whilst this will widen our offering to the market it will also support our commitment to actively engage with our partners, listen to their feedback and make brokers lives easier.”
