Teachers Building Society has made improvements to the criteria on its buy-to-let products.
The Dorset-based mutual said it has made the changes following feedback from its intermediary partners.
The rental calculation has been changed to 125% of the mortgage payment at 4.99% (previously 125% at 5.74%). Also, the restriction on the maximum number of mortgaged properties in a landlord’s portfolio has been extended to eight from three, with the Society willing to lend on up to three per landlord.
The Teachers has also made a reduction to minimum earned income requirements for buy-to-let products to £15,000 per annum.
Colin Dorman, national account manager at Teachers Building Society, said: “We have two competitive buy-to-let deals available to education professionals in mainland UK and all buyers in Dorset.
“I’m confident that these deals provide good value and realistic criteria which, alongside the excellent level of service we provide, offer a good solution to intermediaries.”
