The PRA (Prudential Regulation Authority) has introduced changes for lenders, lending for portfolio landlords with four or more BTL properties, which will add to ‘stress testing’.
In situ from 1st October 2017, one of the the main considerations to be assessed is the ability to service future interest rate rises. Generally, products could remain accessible for the smaller portfolio and relevant properties, however, for the larger landlord, lenders will be looking to more detailed documentary evidence such as business plan, exacting portfolio schedules and stress testing everything for even simple refinance or capital raise.
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Article credit: Copyright SUF © 2017