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Given the increased scrutiny landlords have to go through when applying for a new or renewal buy-to-let mortgage, Kent Reliance’s new income-backed product for limited companies and individual borrowers could prove a godsend.

The specialist mortgage provider has announced the new product, which it says will now take a broader view of customer affordability when the rental property yield on its own does not meet minimum requirements.

Using earned income to supplement the interest coverage ratio (ICR) for buy-to-let loans, this could be the first of many such offerings as competition for buy-to-let lending is still intense among mortgage lenders.

The product, says Kent, has been specifically tailored for non-portfolio landlords looking to borrow through a limited company arrangement or on an individual basis.

Adrian Moloney, sales director for One Savings Bank, which Kent Reliance is a part of, says:

“This new, broader approach to buy-to-let affordability will provide additional flexibility to allow earned income to form part of the affordability assessment for a buy-to-let application.

“High property values, particularly within London and the south east, can result in lower yields and as a result, some applicants may be refused lending, even on good quality properties. We are looking to fix that.

“To support this product, we have also updated our buy-to-let calculator so brokers can immediately see if a case fits the income backed criteria prior to submission, thereby simplifying the process and enabling a faster turnaround.”

Eamonn Delaney, Director at Anthony James  said it was great to see a specialist lender continue to work hard, understand and meet consumer’s needs of many landlords.


Landlords who use our management service gain access to our specialist brokers who have access innovative products like this.


For more information contact Anthony James on 0208 304 0666.

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