Heritable Bank, the fast-growing specialist lender, today revealed it is enhancing loan to value (LTV) criteria across its range of buy-to-let, self-certification, semi-commercial and status mortgages.
Experienced portfolio buy-to-let investors looking to borrow a higher proportion of the purchase price can also benefit from Heritable Bank’s flexible underwriting approach which considers income from across a portfolio as well as further income sources when calculating rental cover. In addition, Heritable Bank has reduced its completion fees for portfolio buy-to-let mortgages, providing enhanced value for landlords seeking funding for multiple properties. These latest moves follow the specialist lender’s recent announcement of improved affordability terms for borrowers with larger incomes.
Colin Stevens, director, residential lending at Heritable Bank commented: “We were keen to simplify and enhance our loan to value requirements to better reflect the real world borrowing requirements of our various customer groups. Our careful, case by case approach to underwriting decisions, taking all income sources and outgoings into account, enables us to reduce our initial equity requirement. Experienced buy-to-let investors will find our portfolio-wide approach to rental cover particularly attractive.”
