UCB Home Loans Buy-to-Let mortgages altered
www.moneynews.co.uk > Mortgages > UCB Home Loans Buy-to-Let mortgages altered
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Money News |
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UCB Home Loans Buy-to-Let mortgages altered
Wed 29th Mar 2006
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Single borrowers will now have the option to borrow up to four times their annual income, while joint applicants can borrow up to 3.25 times their joint annual earnings.
These multiples have been increased form the previous levels of 3.25 and 2.75 respectively.
The lender also announced that other factors would be taken into consideration when considering customers' mortgage applications, such as monthly outgoings and the cost of any mortgage repayment vehicle.
"Our commitment to responsible and prudent lending remains the same and a range of criteria are applied in conjunction with income multiples to assess an applicant's ability to afford the mortgage and ensure a considered and responsible approach," said Keith Astill managing director of UCB Home Loans.
Any customers interested in UCB Home Loans Buy-to-Let mortgages or self-certification packages can find out further details on the lender's website.
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