Mortgage News

Nationwide gets tougher on buy-to-let buyers

Nationwide’s Mortgage Works – the mutual’s buy-to-let arm – which provides one in seven loans to landlords, is increasing rental cover requirements from 125 per cent to 145 per cent and.

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Mortgage lending to buy-to-let investors continued to rise in January but advances to first-time buyers fell to their lowest level in 21 months as the latter struggle to get on the housing. the.

Buy-to-Let Lending Criteria Gets Tougher Nationwide’s Mortgage Works – the building society’s buy-to-let arm – is increasing its rental cover requirements from 125% of the loan to 145%. It is also cutting its maximum LTV from 80% to 75% from 11 th May 2016.

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Can I get a buy-to-let on a new build? Yes – most (but not all) mortgage lenders limit the loan to value on new build properties to around 75% LTV. This is to accommodate the "new build premium" that buyers pay, the value is expected to fall a little before keeping up with the rest of the local market.

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The firm said the number of mortgages it approved to first-time buyers hit an all-time high of 39,000. Nationwide said it was "alert" to the squeeze on household spending power and was bracing for tougher trading despite rolling out a record number of mortgages to first-time buyers. The building.

Britain’s biggest landlord has sold almost half his property empire in the past year, declaring the era of successful amateur buy-to-let. tougher. “If you were an amateur landlord in those days, as.

Here’s what’s happening: For several years, FHA has insured loans to buyers who previously would have been considered. the agency recently informed lenders nationwide that from March 18 onward, it.