Specialist bank Aldermore will now lend at 70% loan-to-value for first-time landlords and 75% LTV for existing landlords.
For buy-to-let it has lowered its ICRs for basic rate tax payers, reduced the minimum valuation on ex-public sector property outside of greater London and has increased the maximum property land size from three to six acres.
Damian Thompson, director of mortgages, Aldermore, said: “We are pleased to announce the latest updates to our proposition for residential and buy-to-let mortgages.
“The latest changes come at a time when it is vital to provide support in a challenging housing market – whether they are a first time buyer with little or no deposit or a landlord looking to invest in a new property or remortgage an existing one.
“At Aldermore, our human approach to lending enables us to consider each case on an individual basis so we can support a range of home buyers. We pride ourselves on supporting individuals’ needs and aspirations and we are constantly looking to improve our proposition to do so.”
