We’ve made the decision to bring forward some planned changes to our Residential and BTL lending criteria.

•        From Wednesday 8th April we’re capping the amount of debt customers can consolidate when remortgaging to £50K or 10 debts.

•        We’re also temporarily reducing our maximum LTV for debt consolidation cases to 80% for Residential applications during the Covid-19 outbreak.

•        These changes will apply to new and additional lending for Residential and new lending only for BTL.

•        Our existing criteria will be applied to pipeline cases where a full application has been submitted. If a material change is made to the case, it will be reassessed against this new criteria.

•        These criteria changes will be applied to AIP’s.

These changes will allow us to keep lending responsibly and give the best level of support and to our borrowers during these uncertain times.