Buy-to-let landlords may face more stringent borrowing rules
Finance could be more difficult to obtain by buy-to-let landlords following the news that lenders could face more stringent regulations when processing mortgage applications in the private rented sector (PRS). The Financial Conduct Authority (FCA) is becoming increasingly concerned that current lending standards may not be of an adequate standard and may ‘compromise’ the integrity of Britain’s financial system.
The City watchdog is currently drawing up plans to tighten its scrutiny of buy-to-let mortgage lending and has written to companies to inform them that it is considering intervening in the growing PRS.
Full story available from LandlordTODAY: https://www.landlordtoday.co.uk/breaking-news/2016/8/buy-to-let-landlords-could-face-tighter-borrowing-rules