Guidance from mortgage broker, Deal Direct, on new underwriting standards.

Landlords: independent mortgage broker, Deal Direct, offers you expert guidance on the new underwriting standards for buy to let mortgages.

If you have four or more properties, you are now considered to be a portfolio landlord. As a result, you will be subject to the new underwriting standards introduced by the PRA.

Consequently, your applications are now subject to even more stringent and complex affordability tests, with an added emphasis on how experienced you are as a landlord. Therefore, you now have more hoops to jump through to secure your buy to let mortgage – but are you prepared?

These complexities may catch you unawares and hinder the process of your application if you do not seek our expert guidance beforehand.

When gaining loan approval, communication with the lender is key. Without prior knowledge of the new regulations or how a lender’s underwriting has been affected by the changes, your application could be slowed or even rejected. Avoid misunderstandings or failure to supply the right information bu consulting with Deal Direct.

Over the 12 years we have been in operation, we have forged extremely strong relationships with UK buy to let mortgage lenders. Because of this experience, we have gained an in-depth understanding of how they work and can offer an improved level of communication that can help your application.

If you want to be certain of approaching the right lender to finance your portfolio and maximise your profitability, consult with independent mortgage broker, Deal Direct.

For clear advice on any mortgage, speak to us today on 0800 048 8828.