Buy to Let


With years of experience under our belt we can cater for aspiring first time landlord to portfolio investors. Our personal approach to mortgages allows us to assess each case individually on its own merits. This product requires a minimum 20% deposit and our loans range from £50,000 - £1.5 million.

Our flexible approach allows us to cater on a consumer BTL basis, which can include any of the following scenarios:

  • When a family member has occupied or will occupy the property
  • The property was inherited, and the applicant owns no other investment properties
  • A Let to Buy where the applicant owns no other investment properties.

Product Name

The overall cost for
comparison is:

Rate structure based
on our Standard
Variable Rate

Availability

Flexibility

Fees

Early Repayment Charges

2 year Buy to Let
1.75% Discount
BDD019

5.4% APRC

3.69% variable for 2 years followed by Standard Variable
Rate, currently
5.44%.

Purchase &
Remortgage
up to 80% Loan To Value (LTV). 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.

Portable.

  • Product Fee 0.75% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (BTL scale)

  • Completion Fee £75.

3% in year 1 then 2% in year 2, plus a Closing Administration Fee (currently £100).

3 year Buy to Let
1.55% Discount

BDD012

 

5.3% APRC

3.89% variable for 3 years followed by Standard Variable
Rate, currently
5.44%.

Purchase &
Remortgage
up to 80% Loan To Value (LTV). 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
 

Portable.

  • Product Fee 0.75% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (BTL scale)

  • Completion Fee £75.

3% in years 1 & 2, 2% in year 3, plus a Closing Administration Fee (currently £100).

2 year Buy to Let
3.79% Fixed

BDF004

5.4% APRC

3.79% fixed for 2 years followed by Standard Variable
Rate, currently
5.44%.

Purchase &
Remortgage
up to 80% Loan To Value (LTV). 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

  • Product Fee 0.75% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (BTL scale)

  • Completion Fee £75.

3% in year 1 then 2% in year 2, plus a Closing Administration Fee (currently £100).

5 year Buy to Let
3.99% Fixed

BDF002

 

5.1% APRC

3.99% fixed for 5 years followed by Standard Variable
Rate, currently
5.44%.

 

Purchase &
Remortgage
up to 80% Loan To Value (LTV). 

 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

 

  • Product Fee 0.75% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (BTL scale)

  • Completion Fee £75.

3% in years 1 2, 3, and 4 then 2% in year 5, plus a Closing Administration Fee (currently £100).

 

An example: A mortgage of £153,023 taken out for a period of 21 years on an interest only basis.

Monthly instalments: £470.55 per month for 23 months, followed by £695.92 per month for 228 months.

Total amount payable: £324,368.08

Total amount of credit: £153,023

The total amount payable includes administration fee £125, valuation fee £255, product fee £1,147.67  completion fee £75 and closing fee £100.

This example relates to Product Code BDD019, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your clients particular requirements.

For HMO's only

Product Name The overall cost for
comparison is:
Rate structure based
on our Standard
Variable Rate
Availability Flexibility Fees Early Repayment Charges

2 Year
Buy to
Let
Discount
1.15% 

BDD022

5.5% APRC

4.29% variable for 2 years followed by Standard Variable
Rate, currently
5.44%.

 

HMO
Purchase &
Remortgage
up to 70% Loan To Value (LTV). 

 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

 

  • Product Fee 1% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (HMO scale)

  • Completion Fee £75.

  •  
  •  

3% in year 1 & 2% in year 2, plus a Closing Administration Fee (currently £100).

 

3 Year
Buy to
Let
Discount 1.15% 

BDD021

 

5.4% APRC

4.29% variable for 3 
years 
followed by Standard Variable
Rate, currently
5.44%.

 

HMO
Purchase &
Remortgage
up to 70% Loan To Value (LTV).

 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

 

  • Product Fee 1% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (HMO scale)

  • Completion Fee £75.

  •  

3% in years 1 & 2, 2% in year 3, plus a Closing Administration Fee (currently £100).

 

5 year Buy to Let 4.49% Fixed
BDF005

 

5.4% APRC

4.49% fixed for 5 years followed by Standard Variable
Rate, currently
5.44%.

 

HMO
Purchase &
Remortgage
up to 70% Loan To Value (LTV). 

 

Overpayments up to 20% of the capital
balance as at 1st January allowed in each calendar year without penalty.
Portable.

 
  • Product Fee 1% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (HMO scale)

  • Completion Fee £75.

3% in years 1 2, 3, and 4 then 2% in year 5, plus a Closing Administration Fee (currently £100).

 

An example: A mortgage of £153,023 taken out for a period of 21 years on an interest only basis.

Monthly instalments £572.56 per month for 59 months, followed by £696.81 per month for 192 months.

Total amount payable: £322,474.23

Total amount of credit: £153,023

The total amount payable includes administration fee £125, valuation fee £580, product fee £1,530.23, completion fee £75 and closing fee £100

This example relates to Product Code BDF005, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.

We have no current plans to withdraw these products but they may be withdrawn without notice. Ask for a personalised illustration.

Lending Criteria and Information

Loan:

Size: Minimum £50,000, Maximum £500,000 at 80% and £1,500,000 at 75%
Term: Minimum 5 years, Maximum 40 years.
Repayment Type: Capital Repayment, Interest Only.

Property:

Minimum Value: £100,000. Must be standard construction.
New build flats may be considered. Must be in England or Wales.

Applicant:

Age: Minimum 21, no maximum 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 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 the case will depend on your clients circumstances and our assessment of the risk.

Procuration Fees:

We will pay an uncapped procuration fee of 0.35% of the amount borrowed to directly authorised and regulated intermediaries on completion of the mortgage. Where the intermediary is an Appointed Representative, the fee will be paid to the Principal. In the event of a change of Principal for any reason, the fee will be paid to the firm responsible for the information or advice at the time the sale was made.

Please contact the Intermediary Sales team to discuss your requirements by calling us on 01225 475702 or by email at intermediaries@bibs.co.uk