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Cambridge BS temporarily withdraws from BTL portfolio lending

  • 08/11/2021
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Cambridge BS temporarily withdraws from BTL portfolio lending
In a broker memo, mutual the Cambridge Building Society has set out its temporary closure to portfolio landlord mortgage applications, in a bid to manage its buy-to-let lending pipeline.


Last month the building society brought back top-slicing on its buy-to-let deals.

This means that it allows landlords to use their other earnings to top-up any shortfall on their rental income calculation. It defines portfolio as landlords with four or more mortgaged properties in their own names.

The last day to submit a buy-to-let portfolio landlord decision in principle (DIP) will be Thursday 11 November by 5pm. If the DIP is approved, this will be valid for 30 days.

Tracy Simpson, head of lending, said: “As a lender that offers a broad range of mortgages we aim to keep all options available whenever possible. However, attracting a balanced mix of business is also an important factor. We’ve seen an increase in applications from portfolio landlords in recent weeks and therefore to maintain an appropriate mix of lending we have reluctantly temporarily withdrawn from taking new enquiries from portfolio landlords.”

Simpson said: “We remain committed to supporting landlords with their borrowing needs as demonstrated recently with the introduction of top-slicing.”

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