BGN Entrepreneur

The government-backed bank—Lloyds Banking Group is clamping down on buy-to-let lending, amid concerns that it is over-exposed to the rental sector in a slowing market of real estate.
The group is now reducing the number of buy-to-let properties that its borrowers can hold from 9 to 3. the bank is also cutting the amount it lend to an individual who buy properties in order to let from GBP 3 million to GBP 2 million.
This changes will apply from the close of business next Friday. Existing borrowers who already exceed one or both of these limits will not be influenced. However, they will not be able to add to their portfolio through the bank.

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