The search system includes a dedicated section for portfolio lending criteria to help brokers assess whether clients qualify as portfolio landlords.
Criteria Hub director Jason Hegarty (pictured) said brokers had been experiencing particular difficulties because lenders used different definitions of what constitutes a portfolio.
“The Prudential Regulation Authority (PRA) defines a portfolio landlord as being one who has four or more mortgaged BTL properties, but different lenders interpret this according to their own rules,” Hegarty said.
“Up to now detailed definitions from lenders have been rather limited and understandably brokers get frustrated when they find that the lender they have picked does not count properties owned by companies or ones that are holiday lets, for example.
“Brokers need to know specifically how a lender defines a portfolio landlord and our new BTL module includes this new search option, which will allow brokers to see lenders’ positioning along with detail and a clear definition of whether certain properties, such as those that are company owned, are acceptable,” he added.
Hegarty will begin the full roll out of Criteria Hub later this month.