TMA has launched a dedicated website, the ‘BTL Hub’, to support advisers, ahead of the Prudential Regulation Authority (PRA) changes coming into force on 30 September 2017.
The PRA will change underwriting requirements on buy-to-let mortgages, making the overall lender assessments more complex for portfolio landlords with four or more mortgaged properties. The BLT Hub brings together information from lenders who have announced how they will handle these changes and underwrite portfolio landlords.
The Hub also contains key reports, latest news updates, links and guides from the PRA, HMRC and GOV.UK to support the education of these changes, together with up-to-date information from lenders as they are announced. In essence, everything easily accessible, all in one place.
Lisa Martin, group development director at TMA, said: “With the implementation date fast approaching, lenders are starting to announce how they intend to approach the new underwriting rules for portfolio landlords. At TMA, we understand how confusing the new regulations may seem, and wanted to help our Directly Authorised intermediaries as they navigate their way through the maze of changes. The BTL Hub does exactly that, offering relevant, accurate and up-to-date information on all things buy-to-let.
“To further support our Directly Authorised intermediaries, we have also arranged three ‘Special Focus’ buy-to-let workshops in the autumn, with the aim of providing intermediaries with a further opportunity to listen to industry experts in the buy-to-let arena, and allowing time to engage with lenders to validate understanding.”
Dates and venues for the TMA buy-to-let workshops:
- 27 September: Birmingham Council House, City Centre
- 3 October: The Village Hotel Warrington, Warrington
- 11 October: The Village Hotel Elstree, Watford