Coventry for Intermediaries has made a number of changes to its buy-to-let proposition.
It has increased the number of buy-to-let mortgages allowed with the CBS Group from three to five per household.
In has also increased the aggregate loan limit on all rental properties mortgaged to them from £1 million to £2 million.
The maximum loan amount at 50-75% LTV has risen, from £500,000 to £750,000 while the lender has also increased the income threshold for 125% ICR from less than £42,500 to less than £49,000.
In addition, Coventry for Intermediaries has introduced a mortgage range specifically for landlords with four or more mortgaged buy-to-let properties in total, either together or separately.
Kevin Purvey, director of intermediaries at the Coventry, said: “We’ve made these changes so that brokers can bring more of their buy-to-let clients to us, and benefit from the simplicity that we bring to the market.
“Our offering for portfolio landlords is particularly straightforward. We don’t ask portfolio landlords for a business plan; instead, there’s just one portfolio document to complete which allows us to underwrite the case immediately. And our new range of products specifically for portfolio landlords further supports the proposition.
“Plus, we have a dedicated underwriting team to make the whole process smooth and seamless for brokers and their clients. It’s this straightforward process and consistent service that makes us the go-to option for many brokers. We’re delighted to now be better placed to help them look after their portfolio landlord clients.”
