Principality Building Society has reiterated its commitment to ‘supporting’ buy-to-let landlords looking to ‘extend and strengthen their investment portfolios’ by increasing its maximum buy-to-let and holiday let loan sizes.
Principality will now lend up to £750,000 at 60% loan-to-value (LTV), while landlords looking for up to £500,000 can borrow 75% LTV.
The lender has also increased the acceptable maximum age of applicants from 75 to 85 years old, while holiday let customers are now allowed to borrow on two properties rather than just one.
Emma Graham, national account manager at Principality Building Society, commented: “The enhancement to our criteria will allow us to continue to support clients who invest in property. We have also decided to lend on a second holiday let, which means we are offering an opportunity for clients to extend and strengthen their investment portfolios.
“With signs that more people are enjoying staycations, there is a growing need for suitable holiday properties across the UK, and our improvements reaffirm our commitment to supporting UK landlords.”