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L&G Mortgage Club revises buy-to-let matrix




The changes that came into effect on 1st January 2017 now require lenders to have the latest interest coverage ratio tests and interest rate stress tests in place.

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “There have been several major changes within the buy-to-let market during the past 12 months, with the most recent being the Prudential Regulation Authority’s new affordability calculations at the start of the year.

“Our buy-to-let matrix has now been updated to include these latest PRA changes, allowing brokers to familiarise and prepare themselves with the new rental calculations.

“Our latest update has all of the information that advisers will need to understand these changes and give their clients the best advice possible, based on the latest, most up-to-date data.”

You can view the matrix on the L&G Mortgage Club website.





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