7th November 2016
Tougher buy-to-let borrowing standards, including a minimum stress-test of 5.5%, will be introduced by the Prudential Regulation Authority (PRA) from 1st January 2017.
Investors will have to prove that money they receive from rent will be sufficient to cover the repayments on their buy-to-let mortgages, should interest rates increase by as much as 5.25%. This system, known as ‘stress testing’, is designed to ensure landlords are not able to borrow more than they can feasibly repay.
The PRA already expect lenders to consider market expectations, a minimum increase of 2% in buy-to-let mortgage interest rates and any prevailing Financial Policy Committee recommendations.
As of January, should these factors still indicate that the borrower’s interest rate will be less than 5.5%, a minimum interest rate of 5.5% must still be assumed. This interest rate is applied to the first five years of the buy-to-let mortgage.
Some lenders have already introduced the new interest rates, ahead of the fixed change in January.
In addition to changes to the Stress Test, the PRA is introducing a range of other affordability tests that will be rolled out by the end of September 2017.
These include a more prudent approach to lenders’ affordability assessments, which give consideration to all costs associated with renting out a property where the landlord is responsible for payment, any tax liability associated with the property and the borrower’s income tax and other related expenses.
Are you concerned about how these changes may impact your buy-to-let mortgage application? Get in touch with our highly experienced independent mortgage advisor, Graham Griffin CeMAP for no-obligation and no-fee professional mortgage advice. Call Maslen Financial Services today on 01273 647390.
As always, an excellent service.
Mr & Mrs Field Lewes Road
Our local office manager, Sharon Wareham was warm and friendly and kept us up to date at all times.Mr Hope The Brow
You were amazingly helpful throughout - a real pillar of strength with a very difficult sale.
Mrs Parkin Fiveways
A completely painless experience from start to finish. Thank you.
Mr Woolven & Mrs Bessant-Woolven Lewes Road
Paula was absolutely amazing!
Mr & Mrs MacKay Lewes Road
The Woodingdean team were very friendly and approachable.Mrs Palmer Pitt Gardens
The whole team were excellent, each one of them felt like family. Sharon had a lot of sorting to do at times but coped very well, a true profession...
Mr Vernon Woodingdean
Very impressed with all dealings with Maslen. Paula Carter was in particular very knowledgeable and helpful.
Mr McBlane Hove
We were very pleased with services provided by the Fiveways office.Mr & Mrs Sawyer Shaftesbury Road
Excellent customer service throughout. I will definitely recommend you, and use you again. Thank you.Ms Longley Kingsbury Street
It was a long, drawn out process that the people at Maslen helped me through, without the impression that it was a chore. So extremely professional...
Mr McLagan Lewes Road
Nick and Paula are total stars! They were incredibly supportive and present throughout. Thank you!
Miss O'Haire Hove
Thank you for everything!Ms Tucker Willow Close
The staff were very helpful, an excellent service. I would recommend you to others.
Miss Hockly Fiveways
Paula's role was brilliant. Having someone office based and available was so appreciated and her promptness an impressive service - every Estate Agent...Ms Wynn-Jones Baxter Street
We were delighted with the service received from all the staff with whom we had contact,Dr Crichton The Ridgway
Quality advice about when and how to sell, which was spot on. Thank you.Miss Coleman Buller Road
Very thorough & very informative.Mr Michnowicz Waldegrave Road
Good team. Straightforward. No nonsense.Mr Standing Newmarket Road
The team worked very hard over a long period to ensure my sale went through - excellent service!Mr Patrick Gladstone Terrace
All very professional, kept updated throughout. Very pleased - Would recommend.
Mrs Hammond Hove
The whole team were very committed from start to finish.
Mr Pilgrim Lewes Road
We were very impressed with the Nick from start to finish.
Mr & Mrs Smith Lewes Road
Thank you. We found all the staff knowledgeable and really pleasant to deal with.
Ms Ansloos Lewes Road
Excellent Service from start to finish.Mr T Mole Cromwell Road
Cannot express our appreciation enough of all the efforts made by the Woodingdean team - they were fantastic.
Mr John Mogridge Woodingdean
Very comprehensive and professional. Nice people to work with and highly recommended.Mr Alderton Ladysmith Road
Many thanks to Nick. It was an easy process thanks to you! I'm extremely satisfied with how the sale went, great job.Ms Mayanobe Aymer Road
I wish we had used you to sell our property! Nice to meet honest people, who are genuinely interested in helping. Very pleased.Mrs Porter Taunton Road
Sharon, Harvey and James were all excellent - very professional. Totally opposite to what I have experienced with other agents. Maslen have restore...
Ms Lyons Woodingdean
Outstanding service from Sharon. James is an asset to Maslens & Harvey was so helpful and polite.Ms Cianchetta Selhurst Road
Exceptional service throughout the process - should we decide to sell in the future we wouldn't hesitate to use your agency. You're a cut above the...
Ms Windels & Mr Barham Fiveways
Paul was absolutely brilliant.
Mrs Tasker Fiveways
Brilliant. Well done to Sharon and the Woodingdean team.Ms Curtis The Ridgway
Paula is amazing!Ms Aspnall Gladstone Place
Very impressed with the service. Sharon Wareham works tirelessly, very professionally and is always there for advice.Miss Matthews Kipling Avenue
Best Estate Agents ever experienced - professional, approachable, competent and exemplary.Mr & Mrs Guest Riley Road
Superb service as usual, I would always recommend you.Ms S Hike Blackthorn Close
Very pleased with the service. Many thanks to Sharon and the boys!
Mr Flynn Woodingdean
Already recommended you! Thank you.Mr Edwards The Ridgway
Hugely impressed with Ben & his team.Mrs Mead Upper Lewes Road
Very impressed with the efficient and friendly service, the staff were a pleasure to deal with.
Mr & Mrs Gill Lewes Road
Very good service and communication. Paula was excellent.Mr & Mrs Scarboro 1 Pevensey Road
First class service from a first class team.Mr & Mrs English The Ridgway
Paula was fabulous and we felt really informed and supported.
Mr & Mrs Walker Lewes Road
Great service, always polite and friendly. Excellent contact and info all the way.Mr Wells Bishops Road
In February 2016 I was looking to buy and sell very rapidly. Competition among buyers at the time was very high. Sharon @ the Woodingdean branch sh...
Ms Helen Lyons Woodingdean
Please thank Paula at Lewes Road - Excellent service.Mr & Mrs Nuthall Lewes Road
A very committed team who made the sale process very easy.Ms Rees Ticehurst Road
A really good experience.
Mr Tibble Lewes Road
I would recommend Maslen to anyone.
Mrs Tripp Woodingdean
Extremely efficient. Nick and Paula are excellent. The weekly phone calls were much appreciated.
Ms Gray Lewes Road
Compared to your rivals, your service was excellentMs McGrigor Milner Road
A very positive experience - I had most contact with the Fiveways office and they were so friendly and helpful.Ms A King Balfour Road
Sharon was amazing! She kept us up to date the whole way through the process. We cannot fault Sharon or the rest of her team.
Mr & Mrs Ashley Woodingdean
From start to finish the sale was dealt with in a thoroughly professional manner.
Mr Gibbs Lewes Road
A good team at Woodingdean helped us through a stressful time.Mr & Mrs Penton Sycamore Close
Sold within 2 weeks for asking price "excellent!"Mr Grundy Bishops Road
Sharon was excellent, she kept us informed at all stages and was a really calming objective influence in the process.Ms Frederick Channel View Road
Excellent service as alwaysMr Field Ringmer Road
Very helpful and patient team.Mrs Shea Selborne Place
Harvey was helpful and easily reachable at the beginning of the process and Sharon kept us informed and was always happy to help.Ms Murch & Ms Mapa Ticehurst Road
I found the service to be courteous, friendly and efficient.Mr Upton Buller Road
I was new to the area and viewed a lot of properties with a lot of different agents. Maslens were by far the best I came in contact with, so when i...
Mr & Mrs Heer Lewes Road
I have bought and sold 7 properties, and this was the best experience of an estate agents services I have found.Mrs Shepherd Hertford Road
Paul Wilkinson was extremely helpful and efficient. The only problem was the vendors solicitor and Paul warned me of this. A good transaction all r...
Mr Lavender Fiveways
Thank you Paul and Archie, you gave an excellent service, as well as Kelly. I look forward to working with you again.
Mr White Fiveways
Thanks for an excellent service.
Mr King Hove
Graham Griffin provided us, and continues to provide us, will all-round excellent advice. We trust his knowledge and expertise.Mr Blackmore & Ms O'Sullivan Financial Services
Thank you Maslens, you were all excellent!Miss Jasper Taunton Road
Very pleased with the experience. I would definitely recommend you and use you again.Ms D Edmonds Horton Road
Best Agents in Brighton.Mrs Field Tarner Road
We cannot recommend Maslen's estate agents enough.
Many thanks to Paul, Donna, Janette and the...
Linda & Les Wigmore Close
Very professional service. Thank you!Miss New & Mr Jackson Buller Road
Very happy with the service we got from you guys, everyone we dealt with was extremely friendly, professional and helpful. Thanks!Mr Brown Titian Road
Very, very happy we chose you, felt right from the start! Thank you!Miss Blackadder Coniston Court, Holland Road
Very pleased with the excellent service throughout. Professional, friendly, efficient and no hard sell. Achieved above asking price. Thank you!
Mr Witten Lewes Road
Ben was particularly enthusiastic and helpful. Martin, Paula, Sam and Will are all hard workers.Ms Goodey Franklin Road
Maslens as a whole were really friendly and professional. I have to thank and congratulate Paula Carter for being superb at her job and exceeding m...
Ms Warren Hove
Fantastic service. By far the best agents we have ever used, I cannot recommend you highly enough.Mr Field Mafeking Road
Service exceeded my expectations overall at all stages of the process - I wouldn't hesitate to recommend you. Thanks.
Ms Greene Lewes Road
Sharon and her team could not have done more in what was a difficult sale.
Ms Daly Woodingdean
Thanks David, all very professional.Mrs Flowers Foxdown Road
All the staff I dealt with were excellent. Sharon worked really hard to complete the sale.Mrs Bent Falmer Gardens
Excellent communication and advice throughout. It felt very reassuring to be in good hands.Mrs Brooker Buller Road
First class service. Friendly and professional.Mr Thorne The Avenue
It was an amazing experience, everyone involved were fantastic.Mr & Mrs Knight Woodingdean
The sale was dealt with swiftly, professionally and successfully. Thank you Maslen!
Mrs Lincoln Hove
All agents at Maslen were extremely helpful and polite from the beginning to the completion of sale.
Mr Johnson Fiveways
Excellent service from the Lewes Road branch. Martin Timms secured a quick sale & at a good price & Paula Carter worked really hard to secure...Ms Schulte Bear Road
An efficient, professional and friendly service. Helpful and a pleasure to do business with.Mr Beddington Brading Road
Very impressive - professional and friendly, both Martin Timms and Paula Carter were excellent at keeping in contact with sensible advice based on...
Mrs O'Connor Hove
Ben and Paula were calm and reassuring throughout a very difficult process!Ms Easterbrook Bear Road
Sharon was excellent - kept us well informed, thank you so much!Ms Waters Cowley Drive
At Maslen Estate Agents Ltd, we put people before profit. That means using our expertise to find the right home, or the right buyer, for you – our customer. For sellers, we use our unrivalled knowledge of the local area to ensure your property goes for the right price, to the right person. Our completion rate is one of the highest in Brighton & Hove thanks to our agents being some of the longest serving in the area. We know how complicated selling a home can be, so we offer plenty of advice on the selling process and making the most of your property. And we can provide a free, no obligation market appraisal. For buyers, you can browse houses for sale in Brighton and Hove and flats for sale in Brighton and Hove to find properties that suit any budget. Our handy buyer's guide will tell you nearly everything you need to know about buying property, and we'll be there for everything else. We're dedicated to finding the perfect home for you, taking you through the entire process – from viewing to completion.
Click here to view our brochure.
PropertyMark Client Money Protection certificate.
PropertyMark conduct and membership rules.
Maslen in house complaints procedure.
Landlord fees: Find Tenant Only, Full Management and Rent Collection
Tenant Fees: We do not charge tenants fees.
To secure a property a refundable holding deposit of 1 weeks’ rent is required. If successful a deposit equivalent to 5 weeks rent is required.