The specialist lender has reintroduced a £2m maximum loan size at up to 65% LTV on its standard and limited company BTL product ranges.

This is not applicable for properties which are above or adjacent to commercial premises, HMOs, or multi-unit blocks (MUBS).

Fleet is also reducing the time the primary applicant for the mortgage must have owned a standard BTL, HMO, or MUB property down from two years to one.

The lender said that these changes are the first of several criteria enhancements it will be making, and expects to announce more in the new year.

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Steve Cox, distribution director at Fleet Mortgages (pictured above), said: “It’s important for us, as a lender, to regularly review our criteria to ensure it’s fit for purpose and continues to work in an ever-changing lending environment.

“In our view, the criteria changes we announced do not increase the risk to the business, [and] will not impact on the quality of the applications we receive, but will allow us to reach out to more landlord customers at a time when demand is growing.

“Our aim, as always, is to listen to our intermediary partners and respond where we can, while ensuring our excellent service levels are maintained, and we continue to operate responsibly. 

“We currently have a number further criteria changes in the pipeline, which will also allow us to broaden our lending reach and to ensure landlords can continue to secure the finance they need from a high-quality specialist player in the sector."