YBS improves criteria for individual landlords

The lender has removed the minimum threshold on the amount an individual landlord can borrow where they have at least six buy-to-let properties mortgaged (or to be mortgaged) with the lender, or eleven or more buy-to-let properties mortgaged with all lenders, including YBS Commercial Mortgages.

If a landlord does not fit one of these criteria, the lender will consider applications starting from £3 million.

Mike Davies, head of business development at YBS Commercial Mortgages, said: “This change reflects our desire to close a gap, which has prevented us from helping as many borrowers as we’d like.

“Previously, a landlord needed to have at least six properties with us, as well as to borrow at least £1.5million to be considered for a loan. These changes widen the qualifying criteria to include more borrowers, which is great news.”