Clydesdale Bank has updated its buy-to-let (BTL) mortgage criteria.
The lender has announced it will now have no minimum income requirement and no minimum rental cover requirement.
It says that the updates will be “especially good news for landlords with lower rental yields”.
Last week, Clydesdale announced that it reduced 65% and 75% loan-to-value (LTV) residential product transfer rates for existing customers.
As part of the changes, two-year fixed rates with a fee of £499 now start at 4.40% while the fee-free version starts at 4.60%.
Meanwhile, five-year fixed rates with a fee of £499 will be available from 4.02% and the fee-free version will start from 4.17%.
At the time, Virgin Money head of intermediary sales Richard Walker commented: “We’re pleased to announce that we’ve made reductions to our Clydesdale Bank retention rates which are available to existing customers.”
