Clydesdale removes buy-to-let income and rental cover requirements
Clydesdale said the changes would particularly benefit landlords with lower rental yields.
Clydesdale Bank has announced enhancements to its buy-to-let lending criteria.
As part of the changes, Clydesdale's buy-to-let mortgages have no minimum income requirement and no minimum rental cover requirement.
In a note to brokers, the Bank said: "This will come as especially good news for landlords with lower rental yields.
"As always, we’ll carry out a full income and expenditure assessment.
"Plus, we’re still lending to first-time buyers, and on let-to-buy transactions where we don’t usually require simultaneous completion."
In January, Clydesdale announced that it will now support product switching on pipeline cases. This will allow brokers to switch their customer’s previously selected product onto a new product from the lenders' current new business range.
Product switching is available on cases that are at pre-offer stage or are within 60 days from the date on the offer if at offer stage.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
FCA
FCA bans and fines financial adviser more than £740,000
In The Spotlight
'Turbulence in the mainstream market creates opportunities in the specialist space': Josh Knight, Glenhawk
Housing Market
Almost half of home sellers hit by broken property chains
Regulation
FCA bans and fines trio behind £35.5m investment scheme
This week's biggest stories:
FCA
FCA bans and fines financial adviser more than £740,000
In The Spotlight
'Turbulence in the mainstream market creates opportunities in the specialist space': Josh Knight, Glenhawk
Housing Market
Almost half of home sellers hit by broken property chains
Regulation
FCA bans and fines trio behind £35.5m investment scheme
CHL Mortgages
CHL enhances bridging range with AVMs and enhanced adverse credit criteria
Housing Market
July housing transactions dip 2% amid 'cautious market': HMRC
