Suffolk Building Society has made four criteria changes, including upping the maximum loan size available to borrowers.
For all residential, expat residential, buy-to-let (BTL), expat BTL, and holiday let products below 80% LTV, the maximum loan size has increased from between £500,000 and £750,000 to a flat £1m.
As well as this, the lender will now consider applications from family members.
Specific to BTL, Suffolk has removed its 10 times indebtedness rule and will now judge outstanding credit commitments on a “common-sense basis”.
And the lender will now allow landlords to let their property to three unrelated professionals on a single assured shorthold tenancy agreement.
Suffolk head of intermediary relations Charlotte Grimshaw says: “These changes are as a result of us continually assessing the marketplace to better understand how we can support intermediaries and their clients.
“We don’t promise to lend to everyone but relaxing our criteria in these four areas means that we can help with a greater number of broker cases, with clients benefitting from our common-sense approach to underwriting.”