BM Solutions Raises Lending Limits: A Boost for Landlords
BM Solutions and the Lloyds Banking Group have introduced significant updates to their buy-to-let (BTL) and let-to-buy (LTB) lending criteria, creating new opportunities for landlords to expand and manage their property portfolios. The changes offer increased borrowing capacity and flexibility, marking a significant shift in the group’s approach to property investment financing. Here’s a breakdown of what’s new and how it impacts landlords.
Key Updates to Lending Criteria announced by BM Solutions
Higher Portfolio Value Limit
- Previous limit: £3 million.
- New limit: £5 million.
- Impact: Landlords can now borrow more to finance higher-value properties or larger portfolios within the Lloyds Banking Group.
Market-Wide Limits Remain Unchanged
- The industry-wide cap of 10 properties across all lenders still applies. Note: While Lloyds has doubled its internal property limit, this doesn’t change the total cap in the wider market.
Inclusion of Further Advances
- The new limits also apply to additional borrowing on existing properties.
- Benefit: Landlords seeking further advances now have more flexibility to reinvest or refinance without looking for another lender.
Landlords with buy-to-let (BTL) or let-to-buy (LTB) mortgages through Lloyds Banking Group brands—BM Solutions, Halifax, Bank of Scotland, Lloyds Bank, and Scottish Widows—are set to benefit from recently announced updates to lending criteria. With increased borrowing limits and number of mortgaged properties, these changes provide landlords with greater opportunities to grow their portfolios, refinance existing investments, and manage properties more effectively. This move highlights Lloyds Banking Group’s commitment to offering flexible and competitive solutions tailored to the evolving needs of property investors.
Impact on the Market
The updates reflect Lloyds Banking Group's recognition of the evolving needs of professional landlords in the buy-to-let (BTL) and let-to-buy (LTB) market. By increasing borrowing limits and property allowances, the group is providing experienced property investors with greater opportunities to expand portfolios and maximise returns, reinforcing its commitment to supporting long-term investment growth.
The Importance of Expert Guidance
In an ever-changing market, having a knowledgeable mortgage consultant by your side is crucial. Our experienced team offers tailored, step-by-step support to help you easily navigate the mortgage process's complexities. For personalised advice, contact our experts today or call us on 01628 564631. Let us help you make informed decisions and secure the right mortgage for your needs
Source: BM Solutions
