Jan

New Year Sees Tougher Standards for Buy-to-Let Borrowers

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The first tranche of tougher lending criteria for buy-to-let mortgages, set by the Bank of England’s Prudential Regulation Authority, took effect from 1st January. The new guidance requires lenders to set a more stringent Interest Cover Ratio (ICR) on new borrowing and also apply a stress test, taking into account future interest rate increases. It […]

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