Clydesdale Bank has announced an update to its buy-to-let mortgage criteria, removing the elimination of the minimum income requirement and the minimum rental cover requirement.
This news is especially welcome for landlords who have lower rental yields. Despite the relaxed criteria, Clydesdale Bank will still carry out a full income and expenditure assessment to ensure that applicants can afford to repay the loan.
Additionally, the bank is still open to lending to first-time buyers, as well as let-to-buy transactions where simultaneous completion is not required.
The new criteria will come into effect immediately, and the bank has provided a full breakdown of its buy-to-let mortgage criteria on its website.
