Platform are the latest lender to restrict buy to let lending
Platform Home Loans have made a number of restrictions to its buy to let lending criteria and they will no longer accept applications from self employed professional developers and landlords.
The lender, which is the intermediary arm of The Co-operative Bank, will also no longer allow existing residential customers who request to turn their mortgage in to a full buy to let.
Some lenders have been getting tighter on buy to let criteria, but there are now more banks open to buy to let business. Paragon Mortgages prefer lending to more experienced landlords and they are particularly keen to attract business, previously they were closed for new lending for nearly three years.
Northern Rock will lend to first-time investors and they have some competitive rates and low arrangement fees. To see if I can help you or your customers with arranging finance please feel free to contact me.
November 5, 2010
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