Great news from one of our favourite lenders for lending to individuals. The Coventry Building Society have announced some positive changes to their lending criteria for portfolio landlords.
Why do we like this lender?
Highly competitive rates, simple and efficient application process, great product switch facility and fixed rates with no ERC’s, the only issue was that they would only lend on up to 3 properties within a portfolio. The good news is, this limit has now been extended to 5 properties!
Further changes include:
Income threshold increased so that more individuals can qualify for lower rate taxpayer affordability tests.
New product range for portfolio landlords with properties in their personal name, with rates as low as 1.76% at 50% LTV and 2.05% at 75% LTV.
Total loan amount across all rental properties mortgaged with Coventry increased to £2 million and maximum loan amount has increased to £750,000.
To find out more about their great product offering, as well as what other lenders can offer, please contact Advocate Finance today for a free assessment and personalised quote.
Jake – firstname.lastname@example.org