The Cambridge Building Society has increased the maximum loan-to-value on two specialist buy-to-let ranges as it seeks to widen options for landlords.
The society has raised the maximum LTV on its Expat and Holiday Let products to 80%, bringing them into line with its core buy-to-let range.
The changes mean loans of up to £1m are now available on both ranges, with no upper age limit. Portfolio landlords are also accepted, with no restrictions on the number of properties held in the background.
Dan Barker, product and propositions manager at The Cambridge, said: “By increasing the LTV on our Expat and Holiday Let products, we’re strengthening our buy-to-let range to make it easier for landlords and investors to achieve their property goals in an increasingly volatile market.
“These changes give brokers more flexibility when supporting clients whose circumstances fall outside standard criteria, while maintaining a consistent approach across our buy-to-let offering.”
The move follows an announcement last month that the society had enhanced support for residential mortgage borrowers through the introduction of revised stress rates.
The updated stress rates allow eligible customers to borrow up to an additional £33,000, following clarification from the Financial Conduct Authority on how lenders may apply affordability stress testing.
