Complete FS director Tony Salentino told an audience at the London Buy to Let Forum the lender would accept County Court Judgments (CCJs) one year after the debt is discharged.
He said: “We do have a brand new lender coming to market within the next few weeks which has been approved by the Financial Services Authority, now the FCA, specifically as an adverse lender. They can’t do clean business.
“They have come to six distributors in the UK, including us, and that is the only way you will get access to them.”
The packager and distributor head also outlined current criteria in the BTL market, where the typical ‘vanilla’ borrower had a minimum income of £25,000 and lenders were increasingly open to larger landlords.
Lenders are increasingly taking “the more the merrier” attitude to landlords with large portfolios, Salentino said.
He added: “When not so long ago a whole amalgamation of lenders said ‘three properties max’ across all of the brands, it is great to hear the converse.”
Deals for limited companies are becoming more common, along with houses of multiple occupation and student accommodation, he said.
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