UCB Home Loans has announced its plans for further expansion in the buy-to-let mortgage market.
Nationwide's specialist lender has increased the maximum number of buy-to-let properties from two to ten for each borrower, as well as upped the aggregate buy-to-let borrowing amount from £600,000 to £3 million.
UCB Home Loans has also launched two new buy-to-let flexible mortgage products, as well as a new fixed rate remortgage product.
"Having been a leading player in the buy-to-let sector when it began to take off at the end of the last decade, we are now in the process of increasing our activity to reflect the way in which the sector is maturing," said Keith Astill, managing director of UCB Home Loans.
"Both our own research and that of the Council of Mortgage Lenders has shown that there have been gradual changes in the buy-to-let market over the past five years, with increasing numbers of landlords now expanding their portfolios after making their initial purchase."
Mr Astill said that the initiatives were created in order to address this issue. To read more about Buy-To-Let Mortgages, click here.
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