RBS policy changes for Buy to Let – 4 to 10 properties

This week, RBS have introduce policy changes to their Buy to Let lending criteria representing the final phase of changes post PRA rules introduced last year regarding portfolio landlord (4 or more rental properties) affordability underwriting.

RBS have increased the total number of Buy to Let properties they will allow a landlord customer to own from 4 to 10. The total will include unencumbered properties and properties mortgaged with them and other lenders.

The maximum aggregate customer borrowing allowed has been increased to £3.5m, up from £2m.

The current £50,000 minimum income for aggregated borrowing over £1m will be removed. All customers will be required to meet the standard Buy to Let minimum income of £25,000.

BTL 2 year fixed rates start at 1.84% with a £995 product fee for 60% Loan to Value and 5 year fixed products start from 2.28% for the same terms.

The Property118.com mortgage sourcing tool is available for you to use with our compliments (no charge). Once you have found a product you like simply click the “ENQUIRE” button and complete your contact details in order to progress matters.

This system can be used to source both residential and buy to let mortgages. It is updated live by mortgage lenders and even includes mortgage products available exclusively via broker networks. You can compare total costs of mortgages, including fees, over any period of time.

Alternatively if you would like assistance with any type of property finance please complete the form below and out team will be happy to help.