If you’re a mortgage broker or independent financial advisors then you need to read these five articles ahead of the new PRA portfolio landlords changes that will take effect from the 30th September.
PRA: Underwriting standards for buy-to-let mortgage contracts
The first place to start is with the official documentation from the PRA itself.
Mortgage Strategy:9 things you should know about the PRA’s buy-to-let underwriting rules
The Mortgage Strategy has done a great job of summarising the key points of the new underwriting rules in a format that will make it simple to explain to your clients.
FT Advisor: Natwest reforms underwriting for portfolio landlords
Natwest is one of the few high-street lenders to outline their approach to the new PRA rules and no doubt many others will follow their lead.
This is money: Landlords with multiple properties…here’s what you need to know now
One of the few articles online that approach the subject from the landlord rather than the underwriter’s point of view. There’s also a handy summary of what lenders have issued updated plans so far.
NACFB magazine: Is the industry ready for phase 2?
The NACFB examines the current state of the buy-to-let market from all angles: the lender, the broker and the client.
Bonus: Not an article but a video, Shawbrook TV does a great job of discussing the planned changes.