Key changes to its product range include increased joint income multiples from 2.75 to 3.25 and maximum loan amount at 95 per cent LTV increased to £250,000 across its standard deals.
For its self-cert deals, B&W has increased the joint income multiples from 2.75 to 3.25; single income multiples from 3.5 to 4 and reduced proof of residency – now only 12 months.
Its buy-to-let rental cover has been reduced from 125 per cent to 115 per cent; maximum loan size has been increased from £350,000 to £400,000 per property; lending against ex-local authority housing now available; and capital raising for any purpose on remortgages.
Dominic Toller, head of marketing at B&W Mortgages, said: “We have a good reputation for competitive deals and now our generous criteria changes will make them accessible to many more clients. We recognise the economic environment in the UK is changing and have acted to ensure our criteria remains relevant and competitive.”
