Complete FS believes the offerings of buy-to-let lenders such as Kent Reliance, which has made a major and significant change to its criteria, has meant the market is entering 2014 in a very positive state.

Kent Reliance has decided to assess the suitability of cases on rental income alone and has therefore done away with its minimum income requirement as long as the borrower can demonstrate a reasonable income.

Tony Salentino, director at Complete FS, argues this is a sign of growing confidence in the market and the belief among lenders that the sector is entering a new period of sustainable growth.

He said: “This is a strong sign from a major buy-to-let lender that the sector is looking forward to 2014 with confidence. The minimum income requirement has become a nuisance in the buy-to-let field and while it might have had a purpose as the industry emerged from the worst of the recession and rental income was likely to fluctuate, in today’s market we have seen huge demand for rental property and corresponding extremely healthy increases in rental income year on year.”

Andrew Ferguson, head of sales and distribution at Kent Reliance, said: “We have become increasingly confident in the buy-to-let sector and having examined the way in which our book has performed, allied to the growing evidence of the strength of the rental market, we felt that insistence on a minimum income requirement was becoming less and less relevant as a measure of affordability. We shall however keep it under review.”