Cheltenham & Gloucester (C&G) has unveiled a series of changes to its buy-to-let policy, which it claims will make things easier for intermediaries to understand and speed up the submission of cases.
As part of the changes, self-funding buy-to-lets will now be calculated using notional rates, a move the lender argued will allow the broker to work out the figures in seconds. C&G has also simplified its policy requirements for customers making a main residence application who have buy-to-let properties with another lender, giving intermediaries a quicker, clearer picture of what the lender needs to know. In addition, C&G has introduced a new and improved buy-to-let mortgage form to support these changes. As part of the lending decision, the firm will in future review all commitments tha...
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