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Semi-exclusive Buy-to-let purchase & re-mortgage product

by | Feb 27, 2024 | All

Max LTV

65%

65%

Max Loan Size

Loans up to £500,000

Min Loan Size

£50,000

5 Year Fixed

6.84%

7.29%

Arrangement Fee

4.99%

2.50%

Reversion rate

BBR* + 4.99%

ERC

5 Year Fixed : 5%/5%/4%/3%/2%

10% overpayment permitted on a lump sum basis per annum

Application Fee

£180

Rental calculation

(5 year fixed based on payrate)

These calculations apply to all available property types available within this plan

Basic rate taxpayers and Limited Companies/LLPs 125%

Basic rate taxpayers and Limited Companies/LLPs HMO/MUB 135%

Higher and Additional Rate taxpayers 140%

 


Defaults

1 in last 12 months, 0 in last 3 months (Max £5k)

 

CCJs

1 in last 12 months, 0 n last 3 months (Max £5k)

 

Missed mortgage / secured payments

1 in last 12 months, 0 in last 3 months

 

Unsecured arrears

Not assessed for plan assessment, subject to satisfactory explanation

 

Bankruptcy / IVA

None in the last 72 months

 

*Only 1 instance in total permitted across Defaults / CCJs and Secured missed payments.

 


 

Borrower type criteria

Individual borrowers and Limited Companies (UK SPV)

Does not include Foreign National, Expat, First Time Buyer.

 


 

Property type range

Designed to finance houses, leasehold flats and maisonettes including new build properties through limited company SPV or personal names. Includes small HMO, MUB, above or next to commercial.

Does not include Large HMO/MUB or Holiday Lets.

 

Product information correct as of  27/02/2024.

For intermediaries only.

Your home may be repossessed if you do not keep up repayments on your mortgage or a loan secured against it.

The Financial Conduct Authority does not regulate some aspects of corporate financial planning, property investment or buy to let lending.

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