Six months after the Bank of England’s (BoE) latest
attempt to cool the buy to let market, almost two thirds of landlords (63%) who
are aware of the changes say it is now harder to get a mortgage. The changes,
which come from BoE’s Prudential Regulatory Authority (PRA), were introduced in
two stages last year. A first stage in January 2017 required lenders to apply
an interest cover ratio (ICR) of 5.5% to all products with terms of less than
five years. The second stage, introduced in September 2017, requires portfolio
landlords – like those with four or more buy to let mortgages – to undergo
specialist underwriting processes when seeking new buy-to-let mortgages. Read
more on the NLA website.
More and more undergrads are living at home. That’s a crying shame – here’s
why | Rohan Sathyamoorthy
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Spiralling rental costs have made living with parents the only option for
some students. That fails to prepare them for the realities of adult life
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