Changes to Maximum Tenancy
With immediate effect, we have increased our maximum tenancy term to 36 months.
A term of up to 36 months is acceptable on tenancy agreements for properties in England, Northern Ireland and Wales. Private Residential Tenancies in Scotland already have no specific end date.
A maximum term of five years is still acceptable when the tenancy is in the form of a Department for Levelling Up, Housing and Communities (DLUHC) model agreement or the Scottish equivalent.
Mortgage completions which occur on or after Monday 7 February will benefit from the enhanced term.
Improvements to the Mortgage Portal
We are pleased to advise that we have made some improvement to our Mortgage Portal, used to capture additional details for Portfolio Landlord applications.
With immediate effect, you can clone a previously completed Portfolio Landlord form on the Mortgage Portal. This will be useful for clients who are portfolio landlords and do multiple mortgage transactions with us over time.
Following these few simple steps will allow you to make use of this feature:
- Go to ‘Existing Applications’ screen
- Highlight the application to be cloned by clicking on the application once
- The ‘Clone Application’ button in the top right will become live, click once on this button
- A confirmation pop up box will appear. The new application number should be input, then hit ‘Yes’
- The new cloned application will appear at the top of the Existing Applications list, and this can be accessed by double clicking as usual
- The Portfolio Landlord form for the new application will contain all the information from the previous application
- The details should be updated to reflect the new application ahead of submission of the new Portfolio Landlord form.
For further information, please contact your Business Development Manager.
