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Portfolio Landlord Underwriting Changes coming soon – 21 September


We'll be changing our processes from 27 September 2017 to comply with the new Buy-to-Let underwriting standards


Our current processes will apply to all DIPs submitted before 4pm on Tuesday 26 September 2017 (our online portals will then be unavailable until Wednesday 27 September whilst we implement the changes). All DIPs submitted after the above deadline will be subject to the new underwriting standards.


Deadlines for existing applications under our current processes:


Full Mortgage Applications to be submitted within 14 days (of DIP submission date)
Mortgage Offers issued by 31 October 2017
Completions by 31 January 2018 (or 30 April 2018 for new build applications)


In line with the updates to our secure online portals, the Buy-to-Let affordability calculator on our website will also be updated to reflect the changes on 27 September 2017.


New Portfolio Landlord Template Documents


To comply with the updated Buy-to-Let underwriting standards, we’ll be launching new processes before 30 September 2017.


For now, we're giving you a sneak preview of our PRA document templates so you know what to expect - we'll let you know nearer the time the exact date we're changing our systems and processes, so you'll know when these new documents will be required.


Here are our new template documents (just remember to save them first, before filling them in, to ensure any information inputted is not lost):


Business Plan and Portfolio Schedule - both these documents need to be completed for all portfolio landlord applications


Cash Flow Forecast and Statement of Assets and Liabilities; these two documents need to be completed (in addition to the above) if your portfolio landlord client will have 11 or more mortgaged properties with Aldermore at completion


To see our definition of a Portfolio Landlord and to ensure you'll be giving us your client's information correctly, download our new Buy-to-Let Definitions document.


Remember, our PRA Packaging Guide gives you some extra information and you can access all our current Buy-to-Let documents here.


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