Buy-to-Let Mortgages

• Single houses (freehold and leasehold)

• Single flats

• Maisonettes

• MUFBs

• HMOs (Max 8 bedrooms)

• Ex-LA flats and houses

• Multiple houses on one freehold

• Holiday Lets

• New builds

• Individuals inc Ex-Pats & Foreign Nationals

• Portfolio Landlords (No upper limit on background portfolio size)

• Ltd Companies / SPVs / LLPs / Trusts

• Jersey / Guernsey / Isle of Man registered entities

For Trusts:

• Trust Deed

• The structure chart detailing Settlor, Trustees and Beneficiaries

• Any amendment docs if applicable

• ID and POA of trustees and beneficiaries if over 18

• Trust bank statements

General cases:

• Scanned copy of passport

• If you are packaging a case, see our useful documents page

• Minimum one borrower to be at least 25 years old or under the age of 80 at the time of application

• Maximum ages at the end of the term is 100 years old

• £100k – £3m per asset

• £10m per borrower maximum exposure

• £2m  max loan at 75% LTV

• 65% LTV max above £2m

• 65% and £2.5m max for Foreign Nationals unless they meet QFN criteria

• Minimum term is 5 years, maximum 35 years

• We currently have a range of 2 year tracker products

• Must have a UK credit footprint

• Max loan size £2.5m

• Must have evidencable income of £75k GBP equivalent

• Min loan £350k

• Max loan £2.5m

• Max LTV 65%

• UK resident Foreign Nationals could be eligible for up to 75% LTV and higher loan sizes, see UK based Foreign Nationals card for criteria

• Additional rate loading of 0.25% for Foreign National borrowers unless they meet the UK based Foreign Nationals criteria

• Min £75k GBP equivalent income evidencable from a traceable company

Acceptable Nationalities

• All expected countries plus…
• China
• South Africa
• India
• Australia
• USA

Applications from UK based Foreign Nationals who satisfy the following criteria
may be assessed on the same basis as UK Nationals residing in the UK and be eligible for normal rates and LTVs:

• Resident in the UK for at least 2 years

• Right to permanent residence in the UK

• Holds a UK bank account

• Significant BTL experience in line with criteria for UK borrowers

• No restriction of number of constituent units

• £3m maximum loan at 65%

• £2m maximum loan at 75%

• Aggregated as opposed to single investor valuation may be used in certain circumstance

• LTD companies or individuals

• Up to 75% max LTV – Minimum 2 single-unit Buy to Let properties owned for minimum 12 months

• >75% LTV – Must have owned an HMO for minimum 12 months

• Up to 75% LTV – 150% ICR required

• >75% LTV – Corp/lower rate tax payer minimum 170% ICR, Higher rate tax payer minimum 185% ICR required

• Available to UK residents, resident and non-resident Foreign Nationals and Ex-Pats

• Maximum 20 floors outside of London

• No restriction on building height in London

• A1, A2, B1, EWS1 accepted

• A2 restricted to 70% LTV, B1 restricted to 65% LTV

• 5% builders incentive accepted on new builds

• Market rent always used
• Holiday lets – AST income must cover 100% of interest costs. Borrowing maximum assessed based on average 30 weeks rental per annum

• 10% permitted per annum with no penalty

• Up to 12 month ASTs acceptable

• 36 month corporate tenancy

• Local Authority, Housing Association and Housing Provider lease length up to 3 years (unless a break clause is included)

• Short term holiday lets

We’ll discuss the most appropriate valuation route by asset type, when the application is submitted.

• ***Although we value on OMV, we may also look at the 90 day valuation figures.

• Please see EPC register for more details

• Housing Association

• No more than 3 years unexpired on lease term (unless a break clause is included)

• Up to 75% LTV – speak to our Sales team