Credit Criteria for Buy To Let

The tightening of credit criteria for the buy to let market is changing because of the credit crunch with rising fees and withdrawal of some products.

The most notable being the alterations of minimum rent cover required which raises the minimum rent required to cover mortgage repayments. This increased the rate or withdrawal of lower cover products.

Some lenders have withdrawn their product range; others have withdrawn variable and tracker products. It may be that these are just taking a break and will, when having assessed the situation, bring them back though probably at a h