Scottish Widows adjusts buy-to-let mortgage range

Scottish Widows has made a number of alterations to its range of home loans, with adjustments to its line of buy-to-let mortgages among them.

The lender's buy-to-let mortgage now has a rental cover level of 100 per cent, a reduction from the previous 120 per cent.

There has also been an increase in the maximum loan size to £400,000, following a previous limit of £300,000. Maximum property portfolio value for all applicants is now £1 million.

Changes have also been made to the Scottish Widows graduate mortgage product, with potential multipliers of up to five times single salary for applicants earning £25,000 or more.

The final alterations relate to the lender's fixed-rate deals, with a new two-year fixed-rate fee-free product and a two-year fixed offset deal with a £200 fee now available.

Richard Clark, head of product development and marketing with the firm, said: "Scottish Widows Bank consistently reviews its range of mortgage products.

"These recent developments highlight our commitment to offer flexible products that provide relevant solutions in a rapidly evolving market."

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