Changes to our criteria*

We’ve made improvements to our Buy to Let lending criteria.

From Friday 4 April, we’ve reduced the Interest Cover Ratio (ICR) applied to our Buy to Let applications by up to 1%. Please see the table below

Application Type	Less than 5 year fixed product	5 year or more fixed product
Re-mortgages with no additional borrowing (excluding residential to BTL / Let to Buy)	Higher of 4.75% or product rate +1%	Higher of 4.75% or product rate +1%
All other application types (including residential to BTL / Let to Buy)	Higher of 5.50% or product rate +2%	Higher of 4.75% or product rate +1%

We’ve also removed our minimum income requirement for Buy to Let applications.

See our Buy to Let Employment criteria page for more information.

Previous changes to our criteria*

We’ve made changes to our New Build and Shared Ownership lending criteria

From Friday 21 February, we increased our maximum loan to value for Residential New Build houses and bungalows from 90% to 95%.

We’ve also increased our maximum loan to value for Shared Ownership houses and bungalow purchases from 90% to 95% of the customer share.

See our criteria for New Builds and Shared Ownership for full details.

To see the product information for these new LTV brackets, visit our Products page.
From Thursday 13 February 2025, we’ve increased our maximum loan to income (LTI) multiple for New Build properties.

Now, if an employed customer earning above £75,000pa is purchasing a New Build property up to 90% LTV, they could benefit from a maximum LTI of 5.50 times income.

Supporting more customers purchasing energy efficient properties, that will have lower running costs.

We’re also reducing the income threshold for our maximum LTI of 5.50 times income to £75,000 from £100,000 for our mainstream Residential lending.

For more information on these improvements, please visit our Affordability page.
From Tuesday 7 January, we’ve made the following improvements to our Concessionary Purchase criteria.

We’re introducing a new Concessionary Purchase option of a minimum 5% discount of the market value with a minimum 5% deposit. This applies to both applicants purchasing from an immediate family member or a sitting tenant purchasing from their landlord.

For the full details, including different policy scenarios, visit our Concessionary Purchase page.
From Tuesday 15 October, we launched a 1 Year Fixed Product Transfer range, which is available for both existing Residential and Buy to Let applications. Assisting borrowers who would like to secure their mortgage in the short term, with the option of reviewing it after just twelve months.

We’ve also removed the two year minimum term requirement on our 2 Year Tracker Product Transfer rates with no Early Repayment Charges. Supporting customers with less than two years remaining on their existing TSB mortgage.

Enhanced flexibility for existing TSB mortgage customers.

Please visit our Products page for more information.

31 July 2024 – We’ve made changes to our lending criteria

From 31 July 2024, we’ve made the following changes to our lending criteria:

Buy to Let stress rate changes

We’ve reduced our Buy to Let stress rates by up to 1%. Please see the table below for more information.

Application Type	Less than 5 year fixed products	5 year or more fixed products
Remortgages with no additional borrowing (excluding Residential to BTL / Let to Buy)	Higher of 5.50% or product rate +1%	Higher of 5.50% or product rate +1%
All other application types (including Residential to BTL / Let to Buy)	Higher of 6.50% or product rate +2%	Higher of 5.50% or product rate +1%

Buy to Let mortgages in the background

We've reduced the stress rate used for background Buy to Let mortgages on Residential applications from 6.00% to 5.50%.

*Please check the criteria pages for up to date information