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TODAY'S OTHER NEWS

L&G Mortgage Club updates BTL matrix in line with PRA changes

Legal & General Mortgage Club has updated its buy-to-let (BTL) matrix so it now includes lenders that have recently updated their details and accepts portfolio landlords and limited company buy-to-lets.

The matrix provides clarity to brokers to ensure that they can better support clients with long-term planning and the details can be found in the ‘Lenders Portfolio Allowance’ column.

Following the Prudential Regulation Authority (PRA) changes that came into effect on September 30 2017, the matrix will continue to be updated if lenders announce any further adjustments to their criteria.

Jeremy Duncombe, director of Legal & General Mortgage Club, commented: “There were several lenders who announced their position on portfolio buy-to-let lending ahead of the new PRA changes.”

“Our buy-to-let matrix has now been updated to include this latest set of information on all our lenders and their stance on the portfolio lending going forward.”

He added: “Through our buy-to-let matrix we hope to provide brokers with all the information they need when speaking to their clients about the changing criteria of lenders, allowing brokers to focus on the needs of their clients.”

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