Aldermore has increased the maximum number of properties it will accept on residential buy-to-let mortgage applications from two to three, subject to a total exposure of £1 million.
This change is being implemented immediately on all new residential buy-to-let applications.
Applicants must own at least one existing buy-to-let property. Rental coverage should be 125% at the product pay rate or reversion rate, whichever is higher.
Charles Haresnape, managing director of Residential Mortgages at Aldermore, said: “The rental market continues to go from strength-to-strength and demand for buy-to-let mortgages is increasing.
