Lender policies changing fast



I'm currently getting over 200 emails per day with updates from lenders and investors. The market is changing rapidly and I will try to update you as often as I can.


Key updates:


  • Limitations on HMO properties

  • Some lenders will not consider properties built before 1900

  • Restricted lending on blocks of flats with more than 4 floors

  • ICR (Interest Cover Ratio) increasing with some lenders

  • Affordability on loans and mortgages will be heavily scrutinised

  • Variable income like bonus and commissions will not be considered with some lenders

  • Self employed will be effected with changes to lending policies

  • Applicants must have a strong credit at time of application

  • Interest rates are going up with some lenders between 0.50% to 1.5%



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