You are here: Home - Better Business - Business Skills -

Yet more changes for buy-to-let market to get to grips with – Ying Tan

by: Ying Tan, managing director of Buy to Let Club
  • 05/10/2018
  • 0
Yet more changes for buy-to-let market to get to grips with – Ying Tan
This month the landlord market has undergone yet another change, as the licensing requirements for houses in multiple occupation (HMO) properties have been overhauled.


From the 1st of the month the three-storey requirement will be removed and all properties with five or more people living in two or more households and sharing a kitchen and a toilet will require an HMO license.

And while the sector gets to grips with another change, it’s been a busy old month on the lender front too with a number of criteria changes and rate reductions.


Santander and TSB

Santander has announced the maximum number of mortgaged let properties on completion is three (with any lender).

The maximum number of let properties (mortgaged and mortgage-free) on completion for remortgages without capital raising (which meet its transitional eligibility criteria) is now 10.

TSB has been busy making some changes to its buy-to-let range, moving the end dates for buy-to-let products to the end of December and introducing a number of rate reductions.

Two-year fixed rates between 60% and 75% loan to value (LTV) have been reduced by 0.10%, while three- and five-year fixed rates up to 75% LTV have been reduced by 0.30%.


LendInvest and Virgin

LendInvest announced a criteria change, on the back of ‘feedback sessions’ and will now include purpose-built studio flats to its policy.

The studios must have an internal area of more than 30 sq/m, be located within London and have adequate sales demand/liquidity.

Virgin Money became the latest lender to respond to the recent rate rise increasing its Standard Variable Rate and Buy to Let Variable Rate by 0.20%.


Clydesdale and Kent Reliance

Clydesdale Bank has also introduced a number of rate changes, reducing rates on several of its products.

Its two-year fixed rate up to 60% LTV has been cut from 2.59% to 2.39% and its two-year fix to 75% LTV has been reduced from 2.84% to 2.64%.

Finally, Kent Reliance has decreased its 75% and 80% LTV five-year fixed rates for buy-to-let standard and buy-to-let specialist products.

The new rates will now start from 3.79%.



There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
House prices fall for second consecutive month – Halifax

House prices fell for the second consecutive month in September and by a much steeper margin than August, according to...