The Telegraph have published an article that Landlords are battling an affordability crunch as banks clamp down on borrowing over fears the cost of living crisis will push up rental arrears.
According to Chris Sykes, of the mortgage broker Private Finance, this means that a landlord who expects monthly rental income of £1,000 will see their maximum loan size fall by nearly 9pc from £206,000 to £188,000.
Metro Bank has also tightened its stress test, meaning the maximum loan size for an investor who expects £1,000 a month has fallen by 12pc.
The whole article can be read here, note you may have to register to tead it.
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