Foundation Home Loans has announced that it wants to make it easier for buy-to-let landlords to secure finance to add to their portfolios by making alterations to its criteria concerning proof of income as well as doubling the value of portfolios it will accept.
For buy-to-let landlords with portfolios looking to purchase or remortgage an existing property, the specialist lender has increased the maximum portfolio size from £1m to £2m.
Where previously FHL required the last three months’ bank statements for income verification, it can now also be evidenced via the most recent payslip and last P60 for employed applicants, last year’s accounts or SA302 for self-employed applicants, evidence of pension income for retired applicants or by declaring trust funds, investment and rental income as additional income.
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