Virgin Money has made some alterations to its buy-to-let lending policy to make it easier for the lender to accommodate more customers.
These changes include removing its minimum income requirement for interest coverage ratio (ICR) assessed buy-to-let applications.
Where personal income is used for affordability, Virgin still requires a minimum personal income of £50,000, not including income received from buy-to-let properties.
Additionally, portfolio landlords can now have up to five buy-to-let properties in the same post code.
Previously this was restricted to a postcode area.
This restriction does not apply if the application being submitted is a remortgage with no additional borrowing.
Full details of this updated lending criteria can be found online from today.
