Cambridge Building Society is temporarily withdrawing from lending to portfolio landlords.
The lender emailed brokers today to warn them that it will no longer be accepting applications from landlords with four or more mortgaged buy-to-let properties in their personal name from Friday onwards.
Cambridge says that the deadline for submitting portfolio cases for a decision in principle (Dip) is Thursday at 5pm.
If the Dip is approved, this will be valid for 30 days.
Last month the building society brought back top-slicing on its buy-to-let deals.
This means that it allows landlords to use their other earnings to top-up any shortfall on their rental income calculation.
Head of lending Tracy Simpson says: “As a lender that offers a broad range of mortgages we aim to keep all options available whenever possible.
“However, attracting a balanced mix of business is also an important factor.
“We’ve seen an increase in applications from portfolio landlords in recent weeks and therefore to maintain an appropriate mix of lending we have reluctantly temporarily withdrawn from taking new enquiries from portfolio landlords.
“We remain committed to supporting landlords with their borrowing needs as demonstrated recently with the introduction of top-slicing.”
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