The Mortgage Lender has amended its buy-to-let criteria by increasing its lending threshold.

The firm has increased its lending threshold on BTL properties from £2.5m to £5m and it has removed the number of portfolio properties it will lend on.

It has also increased the maximum loan size for individual properties from £2m to £3m and it will accept refinance applications within six months of the initial purchase.

Additionally, The Mortgage Lender will now accept BTL applications for properties on Anglesey and the Isle of Wight and lend on HMOs that are leasehold flats.

The amendments are in response to broker feedback from distribution partners and directly authorised brokers, according to the lender.

The Mortgage Lender sales director Steve Griffiths says: “The criteria enhancements reflect what our broker partners have told us is important for them and their clients.

“It is only by having close relationships and being involved in the conversations about borrowers and properties that fall outside normal lending criteria that we are able to respond in this way and change how we operate to better meet the needs of brokers and their clients.

“We will continue to listen to our broker partners and make changes to our criteria and products to help more investors finance their BTL portfolios.”