Platform does away with DSS conditions

Platform, who are the intermediary mortgage branch of The Co-operative Bank, are the latest firm to remove letting conditions and DSS conditions that stop landlords letting properties to tenants who receive housing benefit.

From the 1st April 2019, none of their mortgages will stop landlords from letting to tenants in receipt of housing benefit.

Landlords can let to tenants from April. This will also be made across all lending brands of The Co-operative Bank.

Already, NatWest has removed restrictions on buy-to-let landlords which stopped them from letting to DSS tenants.

This was probably because that in October, NatWest’s lending conditions came under fire about a case of a landlord who was refused a remortgage and threatened with revocation of the existing mortgage on the property because she was renting to a tenant in receipt of housing benefit.

The Work and Pensions Committee contacted NatWest, Co-Op and a series of other mortgage lenders including Kensington, Nationwide, Metro Bank and Precise, whether their buy-to-let mortgage policy allow landlords to let to tenants receiving any benefits including housing benefit.