FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY
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The applicants must have a minimum income per application of £25k per annum. For joint applications this can be a combined income (e.g Applicant 1: £15k, Applicant 2: £10k)
Minimum age is 25 (applies to both applicants where a joint application has been made) and we do not accept FTBs for BTL mortgages
Maximum loan size for any one property is £500k
An individual or group of customers can hold a maximum of:
Maximum LTV for new build houses and flats is 65% for BTL
The rental income must cover the higher of 145% of the mortgage interest at the initial product pay rate or 145% of the mortgage interest at a notional rate of 5.5%.
No, letting to family members is not permitted under a BTL mortgage - these purchases must be processed as a second home loan.
A maximum of 5 unrelated tenants/occupiers is allowed, provided that:
Houses of multiple occupancy are not accepted
Most Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority.