In April, Specialist Lending Solutions revealed that the lender was looking at its options in this area and it has now confirmed an extension of these limits.
From 12 August, BM Solutions will increase the maximum number of buy-to-let mortgages from three to five with Lloyds Banking Group, as well as the maximum value of buy-to-let mortgages from £2m to £3m.
The portfolio limit will remain at 10.
And following a pilot, a web chat service will also be available to help brokers with queries, providing real-time support and an alternative point of contact for business development managers.
Phil Rickards, head of BM Solutions, (pictured) said: “With improvements delivered to our portfolio underwriting proposition, now’s the right time for us to take our next step to bolster the buy-to-let market – and demonstrate our ambition to be the brokers’ first choice.
“Along with greater choice and flexibility for landlords, making web chat live for brokers means we can provide help and support in the ways that they want, when it best suits them.”