Please note this is only a summary of our key criteria, for full information please see our Lending guidelines and submission requirements.
| Up to 75% LTV |
£500,000 |
| Up to 70% LTV |
£1,000,000 |
| Up to 65% LTV |
£2,000,000 |
Maximum aggregate borrowing
Normal total mortgage exposure per borrower £5,000,000
Income
Applicant(s) should have a minimum combined gross annual income of £25,000 per annum
All income must be evidenced
Affordability
The gross rental income from the property should equal or exceed the Interest Cover Ratio requirements as defined within the selected product criteria subject to an absolute minimum coverage of:-
125% - for single self-contained units only (i.e. excludes HMO's, multi unit properties, part commercial properties)
130% - for all other property types
Minimum loan amount
£30,000
Mortgage term
| Minimum |
5 years |
| Maximum |
25 years |
Age
| Minimum |
21 at application* |
| Maximum |
80 at end of mortgage term |
*The applicant(s) should not normally be over state retirement age at the application date.
Property
Minimum property valuation £75,000
Properties divided into a max of 20 units considered on an individual basis
HMO’s considered
Part commercial – considered where there is a commercial element not exceeding 40% of total floor space
For multi unit properties, HMO's and part commercial properties, landlords must have a minimum of three years lettings experience
Limited Companies
Applications will be considered from limited companies.
We should be the applicant limited company's sole and exclusive secured lender for the complete term of any loan we make to the company.
Solicitors
We will normally instruct the applicant’s solicitors to act provided they are on our panel
Please see our Approved solicitors panel for a full list of approved firms
Alternatively please contact New business enquiries on 0845 849 4040 if you require any further information
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