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Buy to let mortgage changes

April 1st, 2016

Buy to let mortgages have been targeted by the chancellor with recent changes looking to boost stock available to first time buyers.

The government’s aim is to make investment property less attractive, to make more houses available for tenants who want to become home owners. This is now more achievable than ever with low deposit schemes and record low interest rates.

In addition, the Bank of England’s regulator has subsequently announced that they’re currently working on plans to cap borrowing by prospective landlords.


At the moment, buy to let loans are not regulated by the FCA and lenders apply a less severe level of underwriting, in comparison to traditional residential mortgages.

New applications could be subject to far more intense stress tests looking at the applicant’s finances, credit agreements, monthly expenditure and overall risk profile. Where previously, if the applicant had a decent credit record and deposit, very little else mattered.

The buy to let market is becoming a complicated niche area for prospective landlords. If you would like any advice on your buy to let purchase call 01489 555 080 to speak with one of our specialist consultants, they will be able to talk you through your options.

Article By: Jon Hatfield, Senior Mortgage Consultant at Contractor Mortgages Made Easy

Media Contact: Ratchelle Deary, Public Relations Manager

Tel: 01489 555 080

Email: ratchelle.deary@contractormortgagesuk.com

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