Buy-to-let landlords to face tougher mortgage test: New rules will ensure owners can survive interest rate rise
Buy-to-let landlords are to face yet more pain after a regulator announced tough rules to ensure they can survive a rise in interest rates.
The measures mean investors will be forced to find larger deposits – or increase rents charged to tenants – if they want to take out a mortgage.
In some cases, landlords will have to put down an extra £15,000 deposit before they can get a home loan.
Last night experts warned thousands of borrowers could be prevented from buying rental properties when the changes come in next year.
It could also affect existing landlords who want to borrow more money by... read more
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