Bank of Ireland ups portfolio limit to £20m

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Those with a professional interest in buy-to-let (BTL) mortgages might be interested to hear of a new product from the Bank of Ireland (BI).

As part of a new range of BTL mortgages, BI is now offering a portfolio limit of £20 million for investors with over five properties, while there is no upper limit on the number of houses one can own under the scheme.

The maximum available loan offered by the bank is now 85 per cent loan-to-value on properties of £1 million or 75 per cent loan-to-value on those of £2 million.

Ian Bates, head of marketing at BI, explained the aims of the new range.

"By understanding the needs of the professional property investor, we have devised a range of products which will help landlords consolidate and expand their portfolios," he said.

BI also offers customers a range of services including loans and current accounts.

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