Major changes to lending regulations for buy-to-let property investors have brought further complexity to the mortgage market.
The Prudential Regulatory Authority’s new regulations, which came into effect on 30 September, will affect all landlords owning four properties or more.
To help portfolio landlords understand what this means for them, Largemortgageloans.com, a mortgage broker specialising in arranging mortgages above £500,000, has published a guide.
These latest regulations follow a series of reforms, including the erosion of tax relief on mortgage interest and an additional 3% stamp duty on second homes – all of which have had a significant impact on buy-to-let investors.
Paul Welch, CEO of largemortgageloans.com, commented: “We’re all too aware of the upcoming challenges and want to support current and prospective clients in any way we can. Our ‘how to’ guide addresses the main questions we’re hearing and is a fantastic resource for anyone unsure of the changes.
“Coupled with our bespoke approach and dedicated support, this will help to guide our portfolio investors through these changing and challenging times.”
The guide is the first in a series from Largemortgageloans.com which will look at the main issues facing property investors and home owners.
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