Announcement
Real Estate Business Update
We are making some risk appetite changes to our products with immediate effect. These changes include:
Buy-to-Let
- We are continuing to support first time landlords but at a maximum LTV of 65%
Commercial and Semi-Commercial
- For all new applications, clients must have at least two years ownership of an existing commercial investment property.
Bridging
- We are mindful that property values may soften in 2023, which could have an impact on your clients’ intended exit strategies. To protect against this risk, on all refurbishment bridging loans the maximum LTGDV has been reduced to 65%.
- Please note, day one LTVs have not changed with up to 85% LTV still available on Lending for Costs cases.