Portfolio Buy-to-Let Lending
A portfolio landlord is defined as 4 or more mortgaged Buy to Let properties (including: property that is subject of application, holiday lets, student lets, properties owned through limited companies, Consent To Let properties and all Buy to Let mortgaged properties owned solely or jointly; excluding foreign properties and commercial properties).
|
Criteria |
Aggregate PBTL Criteria (Secured plus Portfolio) |
|---|---|
|
Max LTV |
75% Min loan £25K / max loan £1m |
|
Affordability |
Min 145% (Stressed at 5.5%) |
|
Max no. mortgaged BTL properties |
10 |
|
Min personal income |
£0 |
|
Min / Max Loan |
£25k - £1m |
|
HMO and/or holiday lets |
Acceptable for 25% of total rental income of background portfolio – none to be mortgaged with TSB |
|
Max mortgage properties with TSB |
5 with TSB / £2m TSB exposure |