Mortgage provider The
Mortgage Works has made "significant" alterations to its lending criteria for
buy-to-let customers.
The amendments, which came into effect on Saturday June 3rd 2006, have been described as "fantastic" by the company.
Changes include 100 per cent rental cover on all three and five-year fixed mortgage products, the launch of a new
tracker mortgage and new buy-to-let
mortgages available to 90 per cent loan-to-value.
Andrew Montlake, from Cobalt Capital, said: "The Mortgage Works have come up trumps with an exciting change in criteria that will appeal especially to brokers like ourselves who specialise in the buy-to-let market.
"It is good to see a lender who has really understood the requirements of brokers and landlords alike. The change in the loan-to-value bandings together with a more realistic rental calculation will assist everyone and should help cement The Mortgage Works as one of the leading buy-to-let providers."
CreditExpert, the
credit monitoring service from Experian has recently advised buy-to-let landlord and mortgage holders to be careful of identity theft.
The company has warned that around 50 per cent of victims who knew the perpetrators were landlords.
