In September, landlords are going to find that it is much more scrutiny involved when applying for and being approved for a mortgage that is used to buy a property that will be rented or leased out. That is why landlords have been given the recommendation that if they plan to remortgage any rental proprties, now is the time to do it. But even now, before the legislation takes effect, landlords have already reported that they are being asked to provide more documentation when applying for the loans. The law that is being enforced is designed to ensure that lenders are approving loans for borrowers who have demonstrated the ability to afford the debt they are requesting.
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