Broker Cases

Buy to Let mortgages

Whether your client is looking for their first investment property, or adding to a portfolio, browse our Buy to Let mortgage range, to get a good idea of how much they can borrow.

Affordability calculator

Find out how much your client can borrow with our affordability calculators.

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Variable rate Buy to Let mortgages

Our Standard Variable Rate (SVR) is currently 7.59%. There may be a limit on how low your interest rate can fall. This is called an ‘interest rate floor’. The interest rate floor applicable to your loan will be specified in your loan documentation.

Product name

Buy to Let variable for 2 years

Product code: BDD089

Initial rate

5.59%

Discount from SVR

2.00%

Overall cost for comparison

7.6% APRC

Max LTV %

80%

Product fee

£999

Fixed rate Buy to Let mortgages

The mortgages listed below move on to our Standard Variable Rate (SVR), 7.59% after the initial rate period.

Product name

Buy to Let fixed for 5 years

Product code: BDF196

Initial rate

5.65%

Overall cost for comparison

7.2% APRC

Max LTV %

80%

Product fee

£999

Product name

Buy to Let fixed for 2 years

Product code: BDF195

Initial rate

5.65%

Overall cost for comparison

7.6% APRC

Max LTV %

80%

Product fee

£999

Proc Fee

We will pay a gross procuration fee of 0.4% on all new introduced business and 0.3% on all product transfers. The fee is usually paid within five working days following completion. Procuration fees may vary for our recognised Clubs & Packagers.
Repayment type
Interest only and repayment options available
Key features
- Availability – Purchase & Remortgage up to 80% Loan To Value (LTV). Minimum deposit of 20% required.
- Flexibility – Overpayments up to 20% of the capital balance as at 1st January allowed in each calendar year without penalty.
- Portable.
Early repayment

For full repayment of a 5 year fixed product, you will pay 3% of the outstanding balance in years 1, 2, 3 & 4; 2% in year 5, plus a Closing Administration Fee (currently £100).

For overpayments of a 5 year fixed product, you will pay 3% on any amount exceeding your 20% limit in year 1, 2, 3 & 4, 2% in year 5.

For full repayment of a 2 year fixed or discounted product, you will pay 3% of the outstanding balance in the first year and 2% in the second year, plus a Closing Administration Fee (currently £100).

For overpayments of a 2 year fixed or discounted product, you will pay 3% on any amount exceeding your 20% limit in the first year and 2% in the second year.
Product fees
- BTL Valuation fee.
- Product fee £999 for individual applications and £1,499 for limited company applications.

Lending criteria

Lending Criteria and Information

Loan:	Size: Minimum £50,000, Maximum £500,000 at 80% and up to £1,500,000 at 75%. Term: Minimum 5 years, Maximum 40 years. Repayment Type: Capital Repayment, Interest Only.
Property:	Must be standard construction. New build flats may be considered. Must be in England, Wales or Mainland Scotland, Shetland, Orkney, Arran, Bute, Skye, Harris & Lewis, Mull and Islay.
All applicants:	Must be UK residents. Minimum age 21. No maximum age, subject to income in retirement.
Income:	Household income must be at least £20,000.
Rental:	The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the product rate +2% or 5.5% whichever is higher.
Underwriting:	We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for your case will depend on your circumstances and our assessment of the risk.