Compare Specialist BTL/Commercial Mortgages | 3mc | Mortgage Packager & Distributor

Compare Criteria - Specialist BTL/Commercial Mortgages

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Intermediary Status

Customer Type

Property Type

Age (end of Term)

Income

Property Value

Property Value

£60,000 (single residential units) £75,000 (HMO's, Multi Unit Freeholds and other properties)

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No minimum income - although evidenced income must support no more than 40% of personal debt.
£25,000 minimum income for First Time Landlords

No minimum income - although evidenced income must support no more than 40% of personal debt. £25,000 minimum income for First Time Landlords
Maximum Age

85 years at end of the mortgage term.
85 years at end of the mortgage term.

Type/Commercial

HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s and individuals.
Allow single name into a limited company name using a directors loan and must be at market value.

Holiday lets (not flats) can be considered (will likely refer) under the Specialist and Complex Buy to Let categories. Affordability is to be based on standard AST/SAT income and this income must meet the ICR hurdle for a single investment property at the relevant stress rate (no offsetting). Consideration must also be given to the demand for holiday letting in the area and evidence of demand should be obtained. Refer on a case by case basis. Holiday let flats not acceptable.
This is only for the Aldermore Commercial arm, not Aldermore Mortgages.

HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s and individuals. Allow single name into a limited company name using a directors loan and must be at market value. Holiday lets (not flats) can be considered...
Historic CCJ's & Defaults

None in last 3 years for residential property.

None registered in last 36 months , CCJs registered over 36 months ago considered , Over 36 months, does not need to be satisfied if total combined value is up to £500. Over 36 months, needs to be satisfied for 36 months if total combined value over £500

For commercial enquiries, up to 2 unsatisfied CCJs in the last 24 months up to a maximum value of £5,000. Allowed up to 5 CCJ's with the last 5 years will be considered subject to underwriting. Defaults considered on case by case basis.

None in last 3 years for residential property. None registered in last 36 months , CCJs registered over 36 months ago considered , Over 36 months, does not need to be satisfied if total combined value is up to £500. Over 36 months, needs to be satisfied for 36 months...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_commercial, type_semi_commercial, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 145% at 5%

Portfolio Landlord Criteria

– No limit on the amount of lending with Aldermore Bank
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Cashflow Statement – All cases with 11 or more mortgaged BTL’s with Aldermore
– Asset & Liability Statement – All cases with 11 or more mortgaged BTL’s with Aldermore
* Lender will accept client versions so long as covers the lenders minimum requirements
£5,000,000 to 75% LTV on 1 unit. £25,000,000 to a single customer.
Owner Occupiers to borrow up to £1m on an interest only basis, for up to 10 years
6 years
10 Years Interest only 35 years maximum for C&I Capped at 20 years for 7 bedrooms or more on HMO and 5 units or more on multi freehold
40 years at the end of the mortgage term
Yes
Yes
Yes
Remortgages within the first six months of the original purchase date are not normally acceptable unless: -

Remortgaging out of bridging finance provided by other lenders will be on a pound-for-pound basis only and capital raising will not be available.

Remortgage of an Aldermore bridging loan onto an Aldermore term product where an Aldermore Bridging loan exits onto a term product:

It will be free from the normal 6 month ownership rule (if held for at least 1 month)

Capital raising in excess of the original bridging loan will be considered on any uplift in value confirmed by the original surveyor, subject to scheme limits Capital raising.

For property related purposes can be considered up to a maximum LTV of 80%

For non-property related can be considered, up to a maximum LTV of 75%

Capital raising for payment of taxes and consolidation of debts that have not been maintained satisfactorily is not permitted
remortgage considered.

Will lend against OMV within 6 months subject to criteria, whilst we will consider re-mortgaging within 6 months at enhanced value this would be at a maximum of 90% of cost/75% LTV on new valuation
No
Yes (unless Ex-Pat)
New Build/newly converted flats not accepted.
Houses - Up to 75% LTV

Ex-local flats are considered if £200,000 minimum in London postcodes.

No outstanding pre-emption requirement to repay a proportion of the discount

Valuer indicating that there is evidence of a meaningful level of private ownership within the estate

The property being of standard construction
Private Individual and Commercial products (Minimum ICR including surplus personal income) 145%

(Minimum ICR excluding surplus personal income) 110%

****************

Limited Company (Minimum ICR including surplus personal income) 125%

(Minimum ICR excluding surplus personal income) 110%

**************

HMO

Private Individual (Minimum ICR including surplus personal income) 185%

(Minimum ICR excluding surplus personal income) 160%

****************

Limited Company (Minimum ICR including surplus personal income) 155%

(Minimum ICR excluding surplus personal income) 140%

Interest Only – 160% coverage at pay rate (higher of product or revert rate if a fixed rate product is selected).
************
Capital and Interest – Variable rate – 140% coverage at pay rate
*
Fixed Rate – 100% coverage at pay rate then 140% coverage of the outstanding debt at the expiry of the fixed rate at the revert rate.
*************
Commercial Owner Occupied – Net Operating Income (NOI) to provide coverage at 165% at the pay rate (higher of the product or revert rate if a fixed rate product if selected)
Remortgage of residential into a BTL accepted
No
Up to 1 in the last 12 months, none in last 3 months for residential property/HMO, for commercial property none in last 3 years payments.
Paid direct to lender at the lender fee scales - quote needed upon case submission
25 years for first time landlords
Will lend in England, Scotland (Mainland) and Wales
No maximum for commercial lending, 6 for BTL
Access to Aldermore commercial is available via selected packagers only
Soft at AIP, Hard foot print at application

Full Details

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Property Value

£75,000 for HMO. £75,000 per unit MUFB

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£70,000
Income

No minimum income.
*****
Minimum income of £25,000 is required for applicants who do not currently own a Buy to Let property.
*****
Minimum income of £40,000 is required for applicants who do not currently own a Residential property. Unless they have 4 or more Buy To Lets.

No minimum income. ***** Minimum income of £25,000 is required for applicants who do not currently own a Buy to Let property. ***** Minimum income of £40,000 is required for...
Maximum Age

85
85

Type/Commercial

Up to 6 bed HMO / Up to 6 Multi Units on 1 title both available to 80% LTV - must have at least 1 BTL property
£75,000 per unit if MUFB
Can consider HMO's let to Students
Ltd Company lending up to 80% on Standard units

For both HMOs and MUBs
•Overall exposure limited to £2m.
•Not available to FTLs.
•Not available on New Build.
•Limited Company applications accepted.
•Shared accommodation on a bedsit basis is not acceptable.

HMOs
•Up to 6 beds.
•Must have additional living area.

•HMO license is required. Where a license is not currently in place, we will require evidence that this has been applied for prior to completion.

MUBs
•Up to 6 units. No minimum overall property value.

•Minimum valuation per unit of £75,000.
•Minimum area 35 SQM.
•Units must have separate utility services.
•Property must be suitable for letting/resale as a single unit i.e. a ‘family’ let.

Up to 6 bed HMO / Up to 6 Multi Units on 1 title both available to 80% LTV - must have at least 1 BTL property £75,000 per unit if MUFB Can consider HMO's let to Students Ltd Company lending up to 80% on Standard units For both HMOs...
Historic CCJ's & Defaults

Ignored if registered over 24 months (communications Defaults ignored)

Ignored if registered over 24 months (communications Defaults ignored)

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5.5% – see lender calculator

Portfolio Landlord Criteria

– No maximum number of properties with Kensington but up to max aggregate borrowing of £2m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Not required
– Asset & Liability Statement – Not required
– Cashflow Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
£2,000,000 to 75% LTV
£1,000,000 up to 85% LTV
5 years (10 interest only)
40 years
35 years at the end of the mortgage term
No
No Gifted deposits on BTL’s are not acceptable on loans over £500k or for those applicants who currently own a BTL property. For BTL (non-Limited Company): Gifted deposits are acceptable from immediate family members (parents including step- parents, grandparents, other family member such as non-dependent child, brother, sister, uncle or aunt). A Donor Gift Deposit Declaration letter, ID and evidence of funds may be required. Where the donor is not a parent or grandparent, they must be a UK homeowner. For Limited Company applications: Deposits for Limited Company applications must be accrued from Directors personal funds or, in some cases, a Director loan is an acceptable source of deposit as it is not treated as a Gifted deposit. Gifted deposits are only acceptable from a Company Director. Gifted deposits from family members are not acceptable deposits. Where a deposit is received from another Limited Company, this can be acceptable, provided there is at least one common shareholding director. Where the structures are different, the deposit is only acceptable where the funds are made as a Directors loan rather than as a Gift.
No Gifted deposits on BTL’s are not acceptable on loans over £500k or for those applicants who currently own a BTL property. For BTL (non-Limited Company): Gifted deposits are acceptable from immediate family members (parents including step- parents, grandparents, other family member such as non-dependent child, brother, sister, uncle or aunt). A Donor Gift Deposit Declaration letter, ID and evidence of funds may be required. Where the donor is not a parent or grandparent, they must be a UK homeowner. For Limited Company applications: Deposits for Limited Company applications must be accrued from Directors personal funds or, in some cases, a Director loan is an acceptable source of deposit as it is not treated as a Gifted deposit. Gifted deposits are only acceptable from a Company Director. Gifted deposits from family members are not acceptable deposits. Where a deposit is received from another Limited Company, this can be acceptable, provided there is at least one common shareholding director. Where the structures are different, the deposit is only acceptable where the funds are made as a Directors loan rather than as a Gift.
12 months minimum ownership before remortgage considered. Will lend against OMV no restrictions on maximum advance
Yes
Yes
Yes - refer
HMO / Multi Unit BTL Range -Use lender calculator

BTL Range: – Use lender calculator
Yes
No
None in last 24 months
Paid direct to lender at the lender fee scales
25
We will lend in England, Wales and Scotland (Main Land).
2
Packaged for the Specialist Distributor Ranges

Full Details

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Property Value

£80,000 Standard £120,000 HMOs & Multi Units

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

Combined total income from all applicants of £25,000 for UK based applicants. For First Time Buyer First Time Landlords then minimum employed income is £85,000
For Expatriates who are Employed:
- £40,000
For Self Employed expatriates: £60,000 minimum.

Combined total income from all applicants of £25,000 for UK based applicants. For First Time Buyer First Time Landlords then minimum employed income is £85,000 For Expatriates who are Employed:...
Maximum Age

85 at the end of the mortgage term
85 at the end of the mortgage term

Type/Commercial

Residential BTL properties in a condition to be let. No commercial properties. First Time Buyer First Time Landlord accepted with minimum employed income of £85,000.

Property value must exceed £80,000
Must be suitable for letting at completion
Must be in an area with strong rental demand as determined by our surveyor partners

No holiday lets, Airbnb, consumer buy-to-lets, shared ownership, Help to buy, Right to Buy or owner occupied properties

HMOs & Multi Unit Freehold blocks (MUFBs):

Max. 75% LTV

Max. 15 bedrooms considered

MUFBs – max. units 10

MUFBs – 25sqm min. unit size

Min. 1 years’ prior experience as a landlord.

Residential BTL properties in a condition to be let. No commercial properties. First Time Buyer First Time Landlord accepted with minimum employed income of £85,000. Property value must exceed £80,000 Must be suitable for letting at completion Must be in an area with strong rental demand as determined by our...
Historic CCJ's & Defaults

No defaults OR CCJ's registered in the last 24 months. If over 24 months then considered on a case by case basis

No defaults OR CCJ's registered in the last 24 months. If over 24 months then considered on a case by case basis

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5%

Portfolio Landlord Criteria

– No maximum number of properties with Landbay to an aggregate borrowing of up to £5mill
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
– Cashflow Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
£1,500,000 to Max LTV
5 years
30 years
60 years at completion of mortgage with 55 years remaining at end of term
Yes
Refer - case by case
Refer - case by case
No minimum
Yes, please also see expatriate section.
Can accept Spousal visa’s - subject to review.
Would look at new builds up to max 75% LTV. Valuation based on lower of purchase price or valuation. All properties must be in a condition to be let on completion.
Houses (Yes) Flats (Case by case basis). The majority of the block/immediate surrounding area should be privately owned.
For purchase and capital raising remortgage applications, the following underlying ICR rates will apply:

Limited company applicants: 125% @ 5.50%

Individual applicants: 140% @ 5.50%

Expatriate applicants: 125% @ 5.50%

For remortgage applications without a capital increase or purchases where the initial fixed rate is 5 or more years in duration, the following underlying ICR rates will apply:

Standard properties up to 75% LTV: 125% @ pay rate

Standard properties up to 80% LTV: 130% @ pay rate

HMO/MUFB properties: 130% @ pay rate

Expatriate and FTL applicants: 135% @ pay rate

The underlying affordability of the background portfolio for an applicant will be considered against a minimum underlying ICR rate of 125% @ 5%.
Landbay may consider cases that fail the initial minimum coverage ratio (above) if it is indicated appropriate to do so by using an affordability model. The Landbay affordability model will take into account a number of elements including other income.
No
No - currently the credit insight data is reviewed as oppose to score
£150 admin fee payable with valuation fee. Further £100 admin fee applies to expat cases. Please see product guide for further details on valuation fees.
21 years
Will lend in England and Wales
4
Access to Landbay is available via selected packagers only, of which 3mc are one
Hard credit search

Full Details

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Property Value

£75,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000

£500,000 for large loan range excluding fees
Income

No requirement - any income must be from a legal source, and will be assessed on the bank statements used to support the BTL application.

No requirement - any income must be from a legal source, and will be assessed on the bank statements used to support the BTL application.
Maximum Age

No maximum age for Limited Company applications. 85 for individual applications
No maximum age for Limited Company applications. 85 for individual applications

Type/Commercial

Up to 8 Bed HMO's and up to 10 units on 1 title. They offer true no minimum income BTL lending.

HMO's and Multi units not available to first time landlords

Also - a First time landlord product is available for non-owner occupiers, however not for first time buyers. Foundation Home Loans define a first time buyer as someone who has never owned a property – either outright, or with a mortgage – ever. First time landlord is someone who has not owned a buy to let property within 2 years prior to application for this lender.
********

Short term / Holiday Lets: -
Yes, Single unit only.
No AST required
Ltd company considered - 1 director must meet criteria.
Air BnB considered
Based on AST rental - however, not required to have AST in place
No to serviced apartments
Up to 75% LTV

Up to 8 Bed HMO's and up to 10 units on 1 title. They offer true no minimum income BTL lending. HMO's and Multi units not available to first time landlords Also - a First time landlord product is available for non-owner occupiers, however not for first time buyers. Foundation...
Historic CCJ's & Defaults

Range Dependent:

Standard Range: No CCJs/defaults registered in the last 24 months, regardless of whether they have been satisfied. All CCJs/defaults must be satisfied and brought up to date at time of application.

Unsecured arrears - for Mail order, Utility accounts, communication contracts & credit cards.

Underwriter can consider up to 4 missed/late payments on 1 individual account or 4 missed/late payments
(4 individual accounts) across a combination of accounts where combine value is less than £500

********
No missed mortgage payments in the last 24 months.

Unsecured loans and credit cards - Worst status of 2 in the last 24 months with 0 in the last 12

Other Unsecured (mail order, utility, communication contracts) - Worst status of 4 in the last 24 months

No IVA or Administration Order registered against any borrower.

No Bankruptcy Order against any borrower.

Debt Management Plans: Applicants who have entered into, or are still repaying, a debt management plan in the last 24 months are not acceptable.

******
All accounts must be up to date at the time of application,
All CCJ’s and Defaults must be satisfied at the time of application

*****
Standard Plus Range - CCJs & Defaults: - No CCJs/Defaults registered in the last 72 months, regardless of whether they have been satisfied.
All defaults and CCJs must be satisfied irrespectiveof when they occurred.

Unsecured loan arrears: A worst status of 0 in the last 72 months.

Credit card arrears: A worst status of 0 in the last 72 months.

Mail Order, Communications & Utilities: A worst status of 4 in the last 24 months per account provided all accounts are up to date on application.

Mortgage arrears: A worst status of 0 in the last 72 months.

Range Dependent: Standard Range: No CCJs/defaults registered in the last 24 months, regardless of whether they have been satisfied. All CCJs/defaults must be satisfied and brought up to date at time of application. Unsecured arrears - for Mail order, Utility accounts, communication contracts & credit cards. Underwriter can consider up...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_expat
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Maximum 75% LTV for the overall portfolio
– A minimum rental stress of 125% at 5.5% across the portfolio with at least 100% coverage for each mortgaged property

Portfolio Landlord Criteria

– FHL to an aggregate borrowing of £3m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Not required
– Cashflow Statement – Not required
– Asset & Liability Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
£1,000,000 to 65% LTV for both individual units and HMO/MUB,
£500,000 to 75% LTV
£500,000 (including fees) to 80% LTV (including fees).
5 years
30 years
50 years remaining on the lease at the end of the mortgage term
Acceptable
A gifted deposit (100%) is acceptable from immediate family members if accompanied by a declaration from the family member/s confirming no repayment required and that they hold no interest in the property which will be purchased using the gifted funds.
No
Properties must be owned for a minimum of 6 months before being considered for re-mortgage. Where bridging was involved this will be reduced to 3 months.
All applicants must be resident in the UK at the time of application and have indefinite right to remain or indefinite right of entry.
Applicants would normally have been permanently resident in the UK for the last three years
Houses - Yes, to 75% LTV

Flats: - Definition: Properties that have been built or significantly altered or refurbished within the last two years.

Significantly altered or refurbished is further defined as properties that have had structural or planning changes sufficient to change the occupancy or use class of the property.

New Build Flats:
• Lending to a maximum of 70% LTV
• Lending limit: No more than 5% of a single block of flats/development subject to a minimum of two units
• Off-plan: We will allow off-plan subject to a satisfactory re-inspection prior to release of funds
• Interest rate coverage must reflect ground rent and service charges where these are deemed to be onerous by the valuer

Properties with schemes and restrictions are not considered such as Section 106 restrictions, Keyworker/affordable housing schemes, shared equity.
Flats and maisonettes – Considered on a case by case basis.
Houses - Yes, subject to valuers comments and good marketability (not First Time Landlords).
For Individual applicants, the rental stress is 145% of pay rate for 5 year fixed products and 145% of pay rate or 5.50% notional rate for all other products.
For Limited Company products, the rental stress is 125% of pay rate for 5 year fixed products and 125% of pay rate or 5.50% notional rate for all other products.
No
Yes
Considered, Product specific, refer to product guide. Assessed on worst status and not missed payments.
Valuation fees paid direct to lender at the lender fee scale.
21 years old
Will lend in England and Wales only
Maximum 2
Access to Foundation Home Loans is available via selected packagers only.
Hard foot print

Full Details

View Lender Page

Property Value

No minimum value
Advance (min)

£75,000
Income

£25,000

£25,000
Maximum Age

No maximum - all "later" life lending will be reviewed by credit committee during dip/application process.
No maximum - all "later" life lending will be reviewed by credit committee during dip/application process.

Type/Commercial

Single units - including freehold and leasehold.

Single units - including freehold and leasehold.
Historic CCJ's & Defaults

Consider on referral if CCJ is satisfied, was registered 5 years ago and for no more than £500. Defaults will be considered individually and will need to be satisfied.

The Society will consider on referral mortgage arrears of no more than 2 months in the
last 2 years. Please refer all enquiries to the sales team.

Consider on referral if CCJ is satisfied, was registered 5 years ago and for no more than £500. Defaults will be considered individually and will need to be satisfied. The Society will consider on referral mortgage arrears of no more than 2 months in the last 2 years. Please refer...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_ltd_spv
Property Type: type_single
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 145% at 5.5%

Portfolio Landlord Criteria

– No limit on the amount of lending with Hinckley & Rugby
– Maximum of 10 in the portfolio

Additional Document Requirements

– Portfolio Schedule – Not required
– Business Plan – Not required
– Cashflow Statement – Not required
– Asset & Liability Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
£500.000 at 60% LTV
£350,000 at 70% LTV

Current Max LTV on pilot scheme is 70%

Up to 3 Buy to Let mortgages may be held with the Society by any borrower, subject to
an aggregate loan limit of £1,000,000
5 years
40 years
85 years remaining on the lease when the mortgage starts, and a minimum of 50 clear years remaining on the lease at the end of the mortgage term. The Society’s basic legal requirements for leasehold properties are described in the Society’s entries in section 5 of parts 1 & 2 of the CML Lenders Handbook CML Handbook.
Yes to DSS
Yes
Accepted, but 20% is required to allow no other deposit is required. Builders deposit: - The Society will reduce the purchase price by the amount of builders gifted deposit and require a minimum of 10% deposit from the applicants on the reduced purchase price.
6 months minimum ownership required
Hinckley and Rugby Building Society can potentially accept Buy to Let applications from individuals they deem property developers provided they can meet minimum income requirements and provide satisfactory proof of income.

The Society does not consider lending on contract reassignment properties.

Between 4 and 10 property portfolio landlords considered.

The maximum LTV of the portfolio must not exceed 70%
New build houses accepted

New build flats accepted
Houses - Yes, up to product max

Flats - Yes, up to 4 storeys and no deck access.
125% @ 5.5% on single unit – unless 5 year fixed, then calculated at product pay rate.
Yes - consider LTB applications on referral. The maximum the Society will lend depends on the interest coverage ratio (ICR) and/or an income affordability test. The mortgage will be considered to be self-supporting if the ICR is at least 145% of the monthly payment at an assumed reference rate, currently 5.5%.

The exception to this is for five-year fixed rate mortgages (where available), for which the ICR requirement is 145% at the product pay rate.

If the mortgage is not self-supporting at the stressed rate, the shortfall in the rental income received and the rental income required in order to be self-supporting must be covered by the borrower’s personal income using a net free pay calculation which takes into account net income, personal expenditure, the residential mortgage payment at an assumed stressed rate and any deficit from rental income from any other BTL properties, also at an assumed stressed rate. In all instances where personal affordability is being considered alongside the rental income, the ICR must equal or exceed 145% at the product pay rate.

Warnings
For Let to Buy applications, the Society will require sight of the mortgage offer for the proposed residential purchase prior to the release of the Let to Buy offer.
Do not credit score, look at credit history and voters roll information. For any instances of imperfect credit or missing voters roll please refer to the sales team. Will only credit search on receipt of a fully packaged application, at this point a full footprint will be left. There is not credit searching done at DIP stage, therefore a DIP will not leave any mark on the client credit file.
Valuation fees paid direct to lender at the lender fee scales.
21 years
Will lend in England and Wales
4 applicants / directors
Access to Hinckley & Rugby BS is available via 3mc - currently piloting a Ltd Company BTL scheme

Full Details

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Property Value

£50,000 (£120,000 London & South East) £120,000 for HMO £150,000 for properties above commercial premises

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,001
Ltd Co and LLP cashback products - £75,000
Income

No minimum income

No minimum income
Maximum Age

80 at application; 95 at the end of the mortgage term
80 at application; 95 at the end of the mortgage term

Type/Commercial

Single Residential units
HMO's (up to 6 beds)
Student lets and Multi units on 1 title (up to 6 on 1 title).
Flats above commercial and ex local authority properties.

Minimum sizes as follows: -

40 sqm if outside of London.
30 sqm if inside of London- if less than it is by referral only, property address will be needed.

Same rule applies if it is a converted studio flat.

Please note, the minimum value to be considered will be £120,000 and will need to be in a city centre location and the valuer will have to confirm demand for this type of property.

Single Residential units HMO's (up to 6 beds) Student lets and Multi units on 1 title (up to 6 on 1 title). Flats above commercial and ex local authority properties. Minimum sizes as follows: - 40 sqm if outside of London. 30 sqm if inside of London- if less than...
Historic CCJ's & Defaults

CCJs – maximum 1 (max £250) in 36 months, 0 in 12 months. Must be satisfied at time of application.

Secured arrears – 0 in 12 months, 1 in 24 months

Unsecured arrears – 0 in 6 months, 1 in 24 months

Defaults – 0 in 24 months

Pay day loans – 0 in 6 years

CCJs – maximum 1 (max £250) in 36 months, 0 in 12 months. Must be satisfied at time of application. Secured arrears – 0 in 12 months, 1 in 24 months Unsecured arrears – 0 in 6 months, 1 in 24 months Defaults – 0 in 24 months Pay day...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio

– A minimum rental stress of 125% at 5.5%

Landlord Criteria

– Up to an aggregate borrowing of £5m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All portfolio landlord cases
– Business Plan – All portfolio landlord cases
– Asset & Liability Statement – Required for 10 or more property portfolios
– Cashflow Statement – Required for 10 or more property portfolios

*
NB – Portfolio assessment will be valid for 6 months to reduce requirements on subsequent applications

Details of all properties held by applicants should be included in the Portfolio Schedule, including
unencumbered properties.
£2,000,000 up to 70% for a single unit BTL (Ind / Ltd co)
£1,000,000 up to 80% for a single unit BTL (Ind / Ltd co)
£600,000 up to 80% for HMO / Multi Unit
£600,000 up to 75% if New Build Flat / Above Commercial
5 years
35 years (subject to there being a minimum unexpired leasehold term remaining at the end of the mortgage of 50 years).
50 at the end of the mortgage term
Yes
Gifted deposits are allowed from family members i.e. parents, grandparents, spouse, gifts from wider family members and non - family members will be considered on a case by case basis by the underwriter. All gifted deposits will be subject to a gift letter from deposit provider including an explanation for the gift. Identification and evidence of funds will be required in these instances. Gift letter required from deposit provider. ID will be required and evidence of funds. ********* Cash in the Bank/Available · Savings – provided from applicants own resources · Limited Company/LLP – Reserves, working capital · Other – case by case basis Cash Not Yet in the Bank/Available · Sale of property or Pending sale – evidenced for example by a letter from solicitor · Sale of Shares/investment – evidenced for example by a contract note · Inheritance – evidenced for example letter from solicitor · Equity from another Property - evidenced for example by a Mortgage offer.
Considered, up to 75% LTV. Must NOT be a consumer BTL.
Minimum time previously owned by vendor - 6 months, unless bought on a bridge or by cash, then can consider under 6 months ownership.
Yes
Houses and flats up to 75% - if 75% required then max loan is £600,000.
Up to 70% then max loan £1.5mill.
*****
Vendor/ Builder Gifted deposit
New Build – First time occupation, up to 5%, greater than 5% considered on a case by case basis.
Yes, up to 75% on houses and flats

Ex-Local Authority Flats (England and Wales)

Will consider lending on Ex-Local Authority properties in England and Wales, subject to:

• Minimum valuation of £50,000 outside of London and the South East
• Minimum valuation of £120,000 in London and the South East
• Maximum 75% LTV
• Traditional construction only (as opposed to core criteria where non-traditional properties are allowed)
• Maximum 5 floors in block, except in London and the South East, where the maximum allowed is 10

Ex-Local Authority Flats (Scotland)

Will consider lending on Ex-Local Authority properties in Scotland, subject to the following criteria:
• Minimum valuation of £50,000
• Maximum 75% LTV
• Traditional Construction only (as opposed to Core Criteria where non-traditional properties are allowed)
• Maximum 5 floors in block
Individuals: BRT – 125% / HRTP 140%
Ltd Co/LLP: 125% ICR
HMO/MUFH: 140%
New Build Flat / Above Commercial: 125% BRTP / HRTP 140%

5 year fixed products @ pay rate
All other products; nominal rate (5.5%) or the initial rate +2%, whichever is higher.
*****
A minimum rental calculation for background portfolio of 125% @ 5.5%. No current maximum LTV.
Yes, consider Let-To-Move/ Let-to-Buy Applications on a case by case basis subject to TML being satisfied it is not a Consumer BTL application
No, but does have a minimum score which is very low.
Valuation fees paid direct to lender and a processing fee of £95 at application to 3mc
21 years
England, Scotland and Wales.
4 applicants. In the event that the application is from a limited company, details of up to four directors/shareholders as applicants will be captured
Access to TML is available via selected packagers only

Full Details

View Lender Page

Property Value

£75,000. £100,00 for HMO's up to 10 beds. £150,000 for 11 + bed HMO's. Multi-Units - Min Val for; 2 -10 units is £100,000 11 - 20 units is £150,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£30,000
Income

£25,000 minimum
Paragon can consider retained profit as long as the business does not required it for continued business. Such as an antique dealer.

£25,000 minimum Paragon can consider retained profit as long as the business does not required it for continued business. Such as an antique dealer.
Maximum Age

80 years old - up to 85 years old by exception only.
80 years old - up to 85 years old by exception only.

Type/Commercial

Standard BTL investment properties such as a house or Flat
Multi Units
HMO's
Student Lets
Studio Flats @ 30sqm
AirBnb - considered
Holiday Let - considered
Short Term Let - considered

Standard BTL investment properties such as a house or Flat Multi Units HMO's Student Lets Studio Flats @ 30sqm AirBnb - considered Holiday Let - considered Short Term Let - considered
Historic CCJ's & Defaults

A comprehensive review of the credit history for each applicant will be undertaken, which will include a credit search on all applicants.

Paragon will undertake a credit score in order to ascertain the acceptability of the application and will not normally consider any application where there is evidence of poor credit history, such as defaults or arrears on any loan.

Paragon will not consider applications with historic or current county court judgments.

The lender reserves the right to obtain a new credit search at any time and any change in the applicants credit history could lead to the application being reviewed.

A comprehensive review of the credit history for each applicant will be undertaken, which will include a credit search on all applicants. Paragon will undertake a credit score in order to ascertain the acceptability of the application and will not normally consider any application where there is evidence of poor...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– No minimum rental stress requirements

Portfolio Landlord Criteria

– Aggregate borrowing of £10m (Paragon Exclusives) & £5m (Paragon Core)
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Case by case
– Asset & Liability Statement – Case by case
– Cashflow Statement – Case by case
* Lender will accept client versions for all documents
NB – Portfolio assessment will be valid for 6 months when using the Paragon Bank Forward Funding Facility Subsequent Application

Paragon Bank Forward Funding Facility Information Sheet
£2,000,000 to 65% LTV
£1,000,000 to 70% LTV
£750,000 to 75% LTV
£500,000 to 80% LTV - Forward Funding Facility Now Available
5 years
25 years
Minimum years remaining on a leasehold property 85 years at the start of the mortgage with at least 65 years remaining at the end of the term of the mortgage. Can consider a lower lease if this is to be extended on completion.
Yes
Yes
No
No restriction - refer.
Applicant / Company must own the property if it is a mortgage.
Yes
Yes
Yes - Refer
Limited Company: –
*******
Lower Rate Tax Payer: –
***********
Higher Rate Tax Payer: –
***********
Paragon HMO: –
Ltd Co:

Lower Rate Tax Payer: –

Higher Rate Tax Payer: –
Yes
Yes - Equifax
None with last 24 months.
Paid direct to lender at the lender fee scales
21 years
Will lend in England and Wales
4
Access to Paragon is available via selected packagers only
Hard foot print at DIP/AIP stage

Full Details

View Lender Page

Property Value

£50,000 (£150,000 London), HMO's min £100,000 (£250,000 London)

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£40,000 for Individuals & Limited Company
This includes single units, HMO's & Multi units
Income

No Min income however must be able to cover rent voids for 3-4 months based on EDI. No proof of income is usually required except where basic rate tax payer and then ONE piece ie latest payslip is required (nothing if buying through a LTD Co.). Min time in employment, 12 months continuous, 12 months trading if self employed including professional landlords. To qualify as a prof landlord clients need to own min 5 props (ring for exceptions). Bank statements are no usually required however if Tiers 2 or 3 then 3 months salary fed bank statements are required.

No Min income however must be able to cover rent voids for 3-4 months based on EDI. No proof of income is usually required except where basic rate tax payer...
Maximum Age

80 years at time of application, cannot turn 81 before completion - 115 maximum age limit, 70 years for FTB FTL
80 years at time of application, cannot turn 81 before completion - 115 maximum age limit, 70 years for FTB FTL

Type/Commercial

SPV Limited Company
Standard BTL investment properties such as a house or Flat
HMO's up to a maximum of 8 bed - can also consider HMO' with 8 beds with 2 kitchens

Portfolio limit for landlords of up to 20 properties allowed with Precise Mortgages. For properties 11 - 20 LTV is capped at 70% and maximum exposure of £10m.

SPV Limited Company Standard BTL investment properties such as a house or Flat HMO's up to a maximum of 8 bed - can also consider HMO' with 8 beds with 2 kitchens Portfolio limit for landlords of up to 20 properties allowed with Precise Mortgages. For properties 11 - 20...
Historic CCJ's & Defaults

Adverse BTL
Dependent upon product plan - Tier 1 highest range and Tier 3 lowest.
****
Defaults 0 in last 12 months,2 in 24 months (max £5k)
CCJ’s 0 in 12 months, 1 in 24 months (max £2.5k).
Missed Mtg/Secured Arrears 0 in 12, Max 1 in 36 months.
Unsecured arrears - Not counted but can affect customers credit score.
Tier 1 - only adverse accepted is 1 unsecured in 12 months, 2 in 36
months (worst status). Must pass credit score
Payday loans can be considered 0 in last 3 months. Unsecured arrears can have been in last 3 months all other adverse 0 in 3 months.

Adverse BTL Dependent upon product plan - Tier 1 highest range and Tier 3 lowest. **** Defaults 0 in last 12 months,2 in 24 months (max £5k) CCJ’s 0 in 12 months, 1 in 24 months (max £2.5k). Missed Mtg/Secured Arrears 0 in 12, Max 1 in 36 months. Unsecured...

Intermediary Status: da_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– Click here to complete the online viability check

Portfolio Landlord Criteria

– Up to 20 mortgages with Precise Mortgages to an aggregate borrowing of £10m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
– Cashflow Statement – Not required
* Lender will accept client versions for all documents
NB – Portfolio assessment will be valid for 12 months to reduce requirements on subsequent applications providing there are no material changes.
£3,000,000 to 60% LTV (This is only on Tier one lifetime trackers FOR BOTH LIMITED COMPANIES AND INDIVIDUAL)
£1,000,000 to 70% LTV
£750,000 to 75% LTV
£500,000 to 80% LTV (Personal name only)
HMO: - £1,000,000 available at 70% LTV
£750,000 at 75% LTV
£500k at 80% LTV (Not available direct with lender, only via a Premier Packager [3mc])
In summary: - £3,000,000 to 60% LTV
£1,000,000 to 70% LTV
£750,000 to 75% LTV
£500,000 to 80% LTV - 75% LTV for FTB FTL
5 Years
35 years
Minimum remaining lease term is 70 years at completion. Can extend lease on completion. In these circumstances key as lease will be and upload full notes on a word document to application when submitting
Considered. Sub letting agreements direct with the council will not be accepted.
Yes - including Aunts and Uncles
No. However can do a Directors Loan Account(DLA) for LTD Company where selling BTL to their own LTD Co.
6 months minimum ownership required before remortgage. No minimum ownership where property inherited or exiting a Precise bridge.
If property was converted from a Residential into a let property, it must have been owned for a minimum of 12 months prior to remortgage.
Yes - can accept secondary applicant on spousal Visa but cannot use their income.
New build flats and houses accepted to product max LTV

****
Flats in blocks up to 20 storeys, with a commercial ground floor accepted

80% LTV available for buy to let new build houses and flats

S106 obligations considered

Mortgage offers valid for six months from the date of issue, if required we may extend for a further three months

New Build flats with a commercial ground floor are considered

Properties that have any MMC components can be considered providing the property was
constructed by one of the following companies:
Barratt Developments
Bellway
Berkeley
Bloor Homes
Bovis Homes
Crest Nicholson
Galliford Try
Persimmon
Redrow
Taylor Wimpey
If the property was constructed within the last 10 years it will need to benefit from one of the
following warranties:
Advantage HCI
Aedis Warranties Ltd
Building Life Plans
Buildzone
Checkmate (Castle 10)
CRL Management Ltd
International Construction Warranties (ICW)
LABC
N.H.B.C. Guarantee
Premier Guarantee Scheme
Professional Consultants Certificate
Protek
Zurich Municipal “New build”
Houses Max 80%, with adverse max 75%.
Flats and maisonettes not accepted.Exceptions can be considered where the following apply... Block in 100% private ownership, no balcony access in block, good curb appeal, standard construction.
Limited Company and HMO: –
Tracker products – @ higher of pay/revert rate + 2% (min 5.5%)

Please visit BTL calculator at Precise BTL Calculator

Please visit BTL calculator at Precise BTL Calculator

5year + fix 125% @ pay rate

Simple refinancing assessment required where LTV is > 60% on a 5yr + fix3

Top slicing
The rental income for the property must be a minimum of 110% of the payment when calculated at the pay rate of the chosen product. Surplus income from an applicant’s existing property portfolio (in the first instance) or surplus earned income can then be used to demonstrate affordability against the ICR required for the loan based on our current lending criteria at the assessment rate for the chosen product (not available to first time buyers).
********
Lower Rate Tax Payer: –
Tracker products – 125% @ higher of pay/revert rate + 2% (min 5.5%)

60% on a 5yr + fix
*********
Top slicing is 110% at payrate even on 2 year rates
*********
FTB FTL – The lender performs 2 x affordability assessments. Earned income will be assessed and the applicant will also need to meet the minimum rental stress requirements
In all circumstances for LTBs Precise will require a simultaneous completion OR the client will need to have moved out and rented the existing property for min 3 months. The client must be on the voters roll at their new residence and proof of 3 mths rent via bank statements and AST will be required. Max 80% LTV for either refinance on to a BTL or onward purchase. Precise can consider both or either transactions. Where only the onward purchase then 'consent to let' from the previous lender will be required
Yes - Experian at AIP stage and then full credit search conducted on both Experian and Equifax at application.
Missed Mtg/Secured Arrears 0 in 12, Max 1 in 36 months.
Valuation fees paid direct to lender at the lender fee scales
21 years
Will lend in England, Scotland (Postcode permitting) and Wales
Traditional BTL 2 - Ltd Co BTL's 4
Access to Precise Mortgages is direct to lender with 3mc as your payment route, unless specialist products are to be used which is via 3mc as your mortgage packager
Soft foot print at AIP

Full Details

View Lender Page

Property Value

£75,000 Exception is residential portfolios where min value is £50,000 for at least 2 properties.

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No Minimum Income

No Minimum Income
Maximum Age

80
80

Type/Commercial

Single Residential investment unit, HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s and individuals.
SIPP's and SAS accepted.
Offshore LTD Companies and Trusts considered - Minimum loan size must be £750,000. Maximum loan size of £1,000,000 applies when based in Gibraltar. Where the parent company ownership structure is incorporated in the Cayman and British Virgin Islands then these would not be accepted.
Flats in blocks exceeding five floors are considered by exception only. Consideration is given for highly experienced clients and where the valuation report provides strong commentary on sale & rental demand as well as location.

Minimum personal guarantee is 25% of the loan amount: -

• Non-refurbishment STL
• Specialist BTL (including large loans)
• Commercial investment product ranges

Complex commercial investments considered: - Including: Serviced offices, vacant commercial property, multi-unit lets on licenses and medium term planning gain projects. 2 years experience required

Single Residential investment unit, HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s and individuals. SIPP's and SAS accepted. Offshore LTD Companies and Trusts considered - Minimum loan size must be £750,000. Maximum loan size of...
Historic CCJ's & Defaults

Unsatisfied CCJ’s/Defaults in last 24 months unacceptable.
A1 credit profile on secured and unsecured lending. Will also look at the credit profile of any businesses that clients are associated with. Will take a pragmatic view of any small blemishes in their credit conduct, but any missed mortgage
payments are likely to lead to rejection.

Unsatisfied CCJ’s/Defaults in last 24 months unacceptable. A1 credit profile on secured and unsecured lending. Will also look at the credit profile of any businesses that clients are associated with. Will take a pragmatic view of any small blemishes in their credit conduct, but any missed mortgage payments are likely...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_commercial, type_semi_commercial, type_holiday_let
Max Age: max-age-70-75, max-age-76-80
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Maximum 75% LTV for the overall portfolio

– A minimum rental stress of 100% at 8% (for individuals) & 7% (for Limited Companies)

Portfolio Landlord Criteria

– No limit on the amount of lending with Shawbrook Bank

– No limit on the size of portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases

– Asset & Liability Statement – All cases

– Business Plan – Not required

– Cashflow Statement – Not required

*Lender will accept client versions so long as covers the lenders minimum requirements
£15,000,000 per client to 75% LTV. Higher is considered by exception.
Loans over £750,000 have specialist rates Exceptions and portfolios considered.
3 years
30 years
85 years remaining at term expiry, less considered to 55 years remaining at the end of the term subject to positive valuer commentary
Accepted
Yes - Gift letter should be completed. Has to include copy of donor’s identity and a bank statement showing funds in a UK bank account
Yes - evidence of payment conduct is required for any borrowings the parents may have secured on the property to ensure they are not shifting bad debt to the applicant while still managing the asset. A Gift letter is also required
No minimum ownership period before remortgage considered. Will lend against OMV within 6 months subject to criteria.
Yes (unless Ex-Pat)
All new builds considered.
Ex-local houses considered.
Ex-local flats considered.
Limited Company: –
(5 year fix, 10 yr term)125% @ Pay rate AND Outside Portfolio check 110% @ 7%

(Variable rate & fixed up to 5 yrs) Margin + 2.40% stress min 5.5% x 125% AND

Outside Portfolio check 100% @7%

*******
Lower Rate Tax Payer: –

(5 yr fix, 10 yr term+) 155% @ Pay rate, AND Outside Portfolio check 110% @ 8%

(Variable rate & fixed up to 5 years) Margin + 2.40% stress min 5.5% x 140% AND outside Portfolio check 100% @ 8%

********
Higher Rate Tax Payer: –

(5 yr fix, 10 yr term+)155% @ Pay rate, AND Outside Portfolio check 110% @ 8%

(Variable rate & fixed upto 5 years) Margin + 2.40% stress min 5.5% x 140% AND Outside Portfolio check 100% @ 8%

********

Shawbrook HMO: –

(Limited Co: – 5 yr fix, 10 yr term+)150% @ Pay rate,AND Outside Portfolio check 110% @ 7%

(Variable rate & fixed up to 5 years) Margin + 2.40% stress min 5.5% x 150% AND Outside Portfolio check 100% @ 7%

********
Lower Rate Tax Payer: –

(5 yr fix, 10 yr term+)175% @ Pay rate,AND Outside Portfolio check 110% @ 8%

(Variable rate & fixed up to 5 years) Margin + 2.40% stress min 5.5% x 160% AND Outside Portfolio Check 100% @ 8%

********

Higher Rate Tax Payer: –

(5 yr fix, 10 yr term+)175% @ Pay rate,AND Outside Portfolio check 110% @ 8%

(Variable rate & fixed up to 5 years) Margin + 2.40% stress min 5.5% x 160% AND Outside Portfolio check 100% @ 8%
*********
Remortgage of residential into a BTL accepted
No
Adverse considered on a case by case basis. Missed mortgage payments over 12 months ago considered.
Paid direct to lender at the lender fee scales
21 years
Will lend in England, Wales and Scotland
No maximum
Access to Shawbrook Bank is available via selected packagers only.
Hard foot print

Full Details

View Lender Page

Property Value

£100,000

100000-150000, 150001-10000000
Advance (min)

£75,000 for 75% products
£250,000 minimum loan for 65% LTV products
Income

No minimum income (£40k income minimum for Expatriates)
Will consider personal background income that show on the SA302 as zero but tax submission shows an income from properties

No minimum income (£40k income minimum for Expatriates) Will consider personal background income that show on the SA302 as zero but tax submission shows an income from properties
Maximum Age

80 years at the end of the mortgage term for the youngest applicant. Older applicants, on the same application, can exceed the 80 year maximum subject to underwriter approval.
80 years at the end of the mortgage term for the youngest applicant. Older applicants, on the same application, can exceed the 80 year maximum subject to underwriter approval.

Type/Commercial

Residential Investment properties only, HMO's (Maximum of 6 bed), Multi Unit Freeholds (up to 10 flats 1 title), Expatriates, Holiday Lets and Ltd Companies (Limited Companies must be NON-Trading SPV's);
***********

Maximum of 5 loans to £5 million and another 5 considered after six months seasoning on the first five, capped at no more than a third of the portfolio, after 5, and maximum lending across all 10 of £5 million.

***********
For Flats in a block of over 5 floors, this can be considered
---
The Bank will consider lending on the following property types
- Standard Houses and Flats
Detached, Semi-Detached, link-Detached, terraced, cottage, bungalow, apartment, maisonette, duplex, penthouse, studio
- Houses of Multiple Occupation ( HMO’s)

Can consider Licensed and unlicensed HMO's

Maximum 6 tenants with individual AST’s.
********
Multi Let Properties
Non licensed HMO – (House Shares acceptable)
********
Maximum 6 tenants with individual AST’s
- Multi-Unit Freehold Blocks (MUFB)

Multiple self-contained residential units held under a single freehold title – subject to a maximum of 10 units.

Bank will lend on whole blocks with up to 10 units.

The Freeholder and leaseholder should not be the same legal entity although may be connected.

Concentration
*************
In order to avoid risk concentrations, if a unit comprises of more than 3 parts each with separate legal title, the maximum number the Bank will lend against in any one unit is 1/3rd, as detailed below:

*************
Exposure Limit Property - Unit with 1 to 6 parts - Maximum of 3, Unit with 7 to 12 parts - Maximum of 4, with addition 1 part being added to every 3 additional parts in the unit, subject to a maximum Bank exposure of 10 units.

*************
Property above Commercial:
Where the building could be classed as good quality and with higher end commercial premises, such as banks, estate agents, art galleries, high end retail outlets or some modern purpose built blocks that may include some wider retail outlets. Axis will not consider properties where the premises are not of high quality and are in the immediate vicinity of restaurants, public houses or takeaways.
***********
Acceptable SIC Codes for SPV Limited Companies: -

68100 – Buying and Selling of own real estate
68209 – Other Letting and operating of own or leased real estate
68320 – Management of real estate on a fee or contract basis.
*******
Can consider AirBnB.

Residential Investment properties only, HMO's (Maximum of 6 bed), Multi Unit Freeholds (up to 10 flats 1 title), Expatriates, Holiday Lets and Ltd Companies (Limited Companies must be NON-Trading SPV's); *********** Maximum of 5 loans to £5 million and another 5 considered after six months seasoning on the first five,...
Historic CCJ's & Defaults

CCJ's not considered in last 24 months, bankruptcy not considered with previous 5 years, late payments are considered. Previous repossessions are not.
******
CCJ’s registered in excess of 24 months prior to application may be considered where:
they are for less than £500 in aggregate and are limited to a maximum of 2.
- For any CCJ’s to be ignored, a certificate of satisfaction must be obtained if not evidenced on the credit search or where unsatisfied the bank must be happy with the explanation provided.
*****
Defaults and missed payments: -
Are to be assessed by the underwriter but may be allowable following review of a written explanation from the borrower.
- If arrears were more than 24 months ago and worst status 1 and now in order then no explanation is required.

CCJ's not considered in last 24 months, bankruptcy not considered with previous 5 years, late payments are considered. Previous repossessions are not. ****** CCJ’s registered in excess of 24 months prior to application may be considered where: they are for less than £500 in aggregate and are limited to a...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio

– A minimum rental stress of 125% at 5.5% for individuals and 125% @ 5.5% for Limited Companies

Portfolio Landlord Criteria

– Up to 5 (10 for existing Axis customers) mortgaged properties with Axis Bank to an aggregate borrowing of £5m

– No limit on the size of portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases

– Asset & Liability Statement – All cases (within the lender application form)

– Business Plan – All cases (within lender application form)

– Cashflow Statement – Not required

*Lender will accept client versions so long as covers the lenders minimum requirements
£750,000 to 75% LTV
£751,000 - £1,000,000 upto. 65%
Loans over £1,000,000 will be up to 65% LTV and will be referred.
5 years
25 years
50 years unexpired term of at least at the end of the mortgage term.
Considered on a case by case basis.
Yes
Yes
Will consider applications from borrowers looking to refinance or raise capital on properties owned for less than 6 months, subject to standard LTV maximum of the property valuation. A maximum LTV of 75% will be available subject to this not exceeding 90% of the initial purchase price and 90% of improvement costs
Yes (unless Ex-Pat).
Non-British citizens must have been continually resident in the U.K. and paying income tax in the U.K. for at least 2 years immediately prior to application, unless they previously resided in one of the countries for which visa’s are not required to work in the UK (broadly EEA countries).
*****
Proof of payment of U.K. tax is required.
*****
Other non-British applicants must be able to provide a certified copy of their valid passport. This must include the United Kingdom Visa page evidencing:
permission to work in the UK (if relevant) and permission to remain indefinitely or an expiry date which must be after the repayment date of the loan.
*****
The Bank will consider applications from Indian residents or NRIs having an existing relationship with Axis Bank Group for a minimum period of 2 years, irrespective of their domicile or tax status.
*****
Other than as noted above, the Bank will not lend to other Overseas Applicants who are defined as those who have either:
- never been resident and liable to pay income tax in the UK; or
- British Citizens who have not paid UK income tax within the last 5 years and who are now working abroad.
Accepted up to 75% to £750,000
For 70% LTV up to £1,000,000
For 65% LTV above £1,000,000
Houses - Yes
Flats - Yes. the bank requires that 50% of the block is in private ownership. Blocks over 5 floors can be considered. Deck access can be considered
None 5 year fixed rate: –
Basic rate – 125% @ payrate + 2% (min 5.5%)
Higher rate – 145% @ payrate + 2% (min 5.5%)
Ltd Co – 125% payrate + 2% (min 5.5%)

5 year fixed rate: –
Basic rate – 125% @ payrate
Higher rate – 145% @ payrate
Ltd Co – 125% payrate

*******

High Net Worth: –

If client has £3m net asset position then they will consider 100% ICR + £300k p/a income (by referral to Axis)

£ and £ remo’s
125% @ 5%

Background rental stress for portfolios for L 4 L remortgages must meet 125% @ 5.5% for Ltd Co and individuals.
Yes, must already own 2 BTL properties.
Credit check only
Allowed 1 in 24 months - any more than 1 missed in last 24 months is subject to underwriting approval.
Paid direct to lender at the lender fee scales
25 years for first applicant & 21 for any subsequent applicants at application stage.
Will lend in whole of England and Wales. Not Isle of Wight
4
Access to Axis Bank is available via selected packagers only
Soft foot print, hard foot print upon full application.

Full Details

View Lender Page

Property Value

£75,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£100,000
£200,000 for Commercial and Semi Commercial loans
Income

No Minimum Income

No Minimum Income
Maximum Age

85 at the end of the mortgage term
85 at the end of the mortgage term

Type/Commercial

HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units.
Available to trading Ltd Co. SPV’s, SIPPs, SASS's, Family/Discretionary Trusts and individuals

HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s, SIPPs, SASS's, Family/Discretionary Trusts and individuals
Historic CCJ's & Defaults

Ignored IF - registered more than 3 years ago and satisfied prior to application. Ignored if registered and satisfied prior to 12 months prior to application.

Ignored if less than £300 regardless of date of registration. Must be satisfied prior to application.

Ignored IF - registered more than 3 years ago and satisfied prior to application. Ignored if registered and satisfied prior to 12 months prior to application. Ignored if less than £300 regardless of date of registration. Must be satisfied prior to application.

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_commercial, type_semi_commercial, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5%

Portfolio Landlord Criteria

– No limit on the amount of lending with One Savings Bank
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
* Lender will accept client versions so long as covers the lenders minimum requirements
£1,000,000 to 85%, No max to 75% LTV. Exceptions and portfolios considered.
2 year term for all applicants
30 years
65 years remaining at the end of the proposed mortgage term
Consider DSS/DWP - but case will refer, subject to location and surrounding area.
Yes - from a direct relative
Yes - Family members credit needs to be checked
No minimum ownership period before remortgage considered. All cases considered on own merits
Yes (unless Ex-Pat).
Tier 2 Visa - on a case by case basis, Tier 2 Visa’s can be considered on case merit. Subject to product loading.
All new builds considered.
HMO and New Build Flats up to max 75%
Consider both houses and flats. Flats are considered providing more than 80% of the block is privately owned/owner occupied.
50-79% private/owner occupied would need to be assessed as an exception to criteria. Cannot consider if less than 50% of the flats owner occupied.
BTL/HMO: The required Interest Coverage Ratio (ICR) will depend on the property type and whether or not we are lending to a limited company.

ICR will be calculated using a stressed rate of 5.5%, or the initial pay rate + 1.55%, whichever is higher.

However, the following exceptions apply:
if the case is a remortgage with no additional borrowing, ICR will be calculated using the initial pay rate + 1.05%, with no minimum stress rate.
if the 5 year fixed rate is being used, ICR will be calculated using the initial pay rate, with no additional margin or minimum stress rate.

Standard Property
Single dwellings
HMO/multi/student lets with up to 5 rooms.
Freehold blocks/titles of land with up to 4 residential units.
Personal Applicants
140% rental cover applies
Limited Company
125% rental cover applies

Specialist Property
HMO/multi/student lets with 6 or more rooms
Freehold blocks/titles of land with 5 or more residential units.
Personal Applicants
160% rental cover applies
Limited Company
145% rental cover applies

Semi-Commercial/Commercial: The Debt Service Cover Ratio (DSCR) is 125% of pay rate
Considered
No
No Adverse in the last 2 years
Paid direct to lender at the lender fee scales
20 years
Will lend in England and Wales
No maximum
Access to InterBay commercial is available via selected Key Partners only
Soft foot print only

Full Details

View Lender Page

Property Value

£75,000 single unit, unless Flat above commercial, MUFB or HMO - £100,000

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000
Income

No minimum income requirement with two exceptions:
At least one applicant to be earning £50,000 if using earned income to make up a rental shortfall;
£25,000 gross income required if the applicant’s employment is “professional landlord”. Gross income is the amount of verified income that a limited company director or individual receives

No minimum income requirement with two exceptions: At least one applicant to be earning £50,000 if using earned income to make up a rental shortfall; £25,000 gross income required if...
Maximum Age

89 years at application, 95 years old at completion.
89 years at application, 95 years old at completion.

Type/Commercial

Single units
HMO's up to 6 bedrooms
MUFB's (Multi units) up to 6 flats on 1 title
Flats above commercial - up to 70%

HMO & MUFB properties will be valued on a ‘bricks and mortar’ basis only, Zephyr Homeloans will not undertake investment valuations.

Single units HMO's up to 6 bedrooms MUFB's (Multi units) up to 6 flats on 1 title Flats above commercial - up to 70% HMO & MUFB properties will be valued on a ‘bricks and mortar’ basis only, Zephyr Homeloans will not undertake investment valuations.
Historic CCJ's & Defaults

Unsecured Loan Arrears & Credit Cards: No late or missed payments in last 36 months.

CCJ's & Defaults: Maximum 1 up to £250 in the last 3 years and satisfied.
None in last 12 months.

Payday loans - No.

Unsecured Loan Arrears & Credit Cards: No late or missed payments in last 36 months. CCJ's & Defaults: Maximum 1 up to £250 in the last 3 years and satisfied. None in last 12 months. Payday loans - No.

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A sample check of a portfolio will be concluded at a minimum of 25%. Rental coverage on the overall portfolio will need to meet 100% of any contractual monthly payment.

Portfolio Landlord Criteria

– No limit on the amount of lending with Zephyr Homeloans
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule (overview) – All cases
– Business Plan – All cases
– Cashflow Statement – All cases
– Asset & Liability Statement – All cases
* Lender will accept client versions so long as covers the lenders minimum requirements
STANDARD (single properties)
Max Loan Amount – £2,000,000 @ 75% LTV.
Max Loan Amount – £1,500,000 @ 80% LTV.

SPECIALIST
HMOs & MUFBs:
Max Loan Amount – £600,000 @ 80% LTV.
Max Loan Amount – £1,000,000 @ 75% LTV.

New build and flats above commercial premises:
Max Loan Amount – £1,500,000 @ 70% LTV.

NB – The maximum LTV for portfolios with aggregate loans of more than £2,000,000 is 75%. We will require proof of the source of deposits
5 years
35 years
Minimum lease of 70 years remaining at the end of the mortgage term
No
Yes, considered. It is acceptable for part or all of a deposit to be gifted by a party unconnected to the transaction
Yes, considered. It is acceptable for part or all of a deposit to be gifted by a party unconnected to the transaction
6 months minimum ownership required
No
Yes, must be British National and reside in the UK.
Accept applications from non-UK nationals who have Indefinite Leave to Remain (ILR) in the UK.
Yes, houses and flats up to 70% LTV
Yes to both, houses and flats.
At least 50 % of properties within the block are privately owned and we require valuer commentary to satisfy us on this point.
Flats or maisonettes in blocks exceeding 10 stories are acceptable subject to mandated approval by Zephyr Homeloans
Less than 60 month product term: Individuals: 140% at pay rate + 2 or 5.5%, which ever is the higher.

125% for Like for Like remortgages & low rate taxpayers.

SPV’s: 125% at pay rate + 2 or 5.5%, which ever is the higher.

HMO’s, MUFB’s & Flats above commercial: 155% at pay rate + 2 or 5.5%, which ever is the higher.

Greater than 60 month product term: Individuals: 140% at pay rate, 125% at pay rate for Like for Like remortgages & low rate taxpayers.

SPV’s: 125% at pay rate.

HMO’s, MUFB’s & Flats above commercial: 155% at pay rate.
No, do not consider.

Do not consider Inherited properties that have previously been occupied by relatives or borrower.
No, but if score is low then overall case is reviewed at application stage.
No late or missed payments in last 36 months.
Valuations fees are paid Via DPR - £199 booking fee and a selection of arrangement fees. See product guide for details. Products not portable.
21 years
Will lend in England and Wales, including Isle of Wight
4 applicants / Directors. Zephyr Homeloans allows up to a maximum of 4 Directors providing at least 80% of shares are held and the company has been set up for the sole purpose of buying, selling or managing residential property. The company details quoted can be verified by reference to Companies House or via an Equifax search.
Access to Zephyr Homeloans is available via selected packagers only
DIP will be a soft footprint with a hard footprint left at FMA - Equifax

Full Details

View Lender Page

Property Value

See minimum advance

100000-150000, 150001-10000000
Advance (min)

Minimum loan on HMO & LTD is now £50,000

Personal BTL minimum £50,000

Multi units minimum loan is £75,000

If over 75% then minimum loan is £100,000.

£125,000 for Ex patriates

£750,000 minimum "Large" loan.
Income

No minimum income except for;

Expatriates - £50,000, verifiable income.

2 years income is required for all self-employed applicants for income-backed products.

Require no proof of income for portfolio landlords, whether they're employed or self-employed (please note, this is still a requirement for non-portfolio landlords).

No minimum income except for; Expatriates - £50,000, verifiable income. 2 years income is required for all self-employed applicants for income-backed products. Require no proof of income for portfolio landlords,...
Maximum Age

85 years at end of the mortgage term
85 years at end of the mortgage term

Type/Commercial

HMO's up to 8 beds (Over 8 bed - The client MUST already own a HMO property. Broker must call into Kent Reliance's team to obtain a quote for a valuation (Long Form Val), Kent Reliance can also lend on student lets. Up to 6 flats on 1 title allowed. Available in SPV Ltd Co and individuals.
Must already own a HMO property.

HMO's up to 8 beds (Over 8 bed - The client MUST already own a HMO property. Broker must call into Kent Reliance's team to obtain a quote for a valuation (Long Form Val), Kent Reliance can also lend on student lets. Up to 6 flats on 1 title allowed....
Historic CCJ's & Defaults

Ignored IF - registered more than 3 years ago and satisfied prior to application.
Ignored if registered and satisfied prior to 12 months prior to application.
Ignored if less than £300 regardless of date of registration. Must be satisfied prior to application

Ignored IF - registered more than 3 years ago and satisfied prior to application. Ignored if registered and satisfied prior to 12 months prior to application. Ignored if less than £300 regardless of date of registration. Must be satisfied prior to application

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5%

Portfolio Landlord Criteria

– No limit on the amount of lending with One Savings Bank
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
* Lender will accept client versions so long as covers the lenders minimum requirements
£3,000,000 to 75%
£1,000,000 to 85% LTV Standard & Specialist BTL products Includes HMO, Student Let, LLP's and LTD SPV Company apps First Time Landlords - Max 80% LTV 85%
Max LTV on up to 8 bed HMO's
If the lease has less than 85 years remaining, then the maximum LTV is capped at 75%
5 years
35 years
50 years remaining on the lease at the end of the mortgage term If the lease has less than 85 years remaining, then the maximum LTV is capped at 75%
No
Yes
Yes
6 months minimum ownership required
No First Time Buyers.

*****
Day 1 remortgage accepted on the following basis: -

• Lending can be based on current property value – if verified works have been carried out and evidence provided. If not, the loan will be assessed at the initial purchase price
• Maximum 75% LTV
• Standard pricing to apply
• Customer(s) to be on the voters roll for residential applications
• Not available for New-build purchases – defined as properties that are less than two years old (from the date of practical construction) which have not been lived in.
Yes - (unless Ex-Pat).
Tier 2 Visa - on a case by case basis, Tier 2 Visa’s can be considered on case merit. Subject to product loading.
New Build houses max 85% LTV
New Build Flats max 75% LTV
Renovation/conversion max 70% LTV
Houses accepted to 85% LTV.
75% LTV flats, block must be 80% privately owned
Standard Property (KRBS consider a single dwelling, HMO/ Multi Unit/ Student Lets with up to 5 rooms and Freehold block/ titles of land up to 4 units as standard properties): –

Personal/ Individual required ICR is 140%
****
LTD Company required ICR is 125%

********
Specialist Property: – (KRBS consider a HMO / Multi / Student Lets with 6 or more rooms HMO/ Multi Unit/ Student Lets / Freehold block / titles of land with 5 or more residential units as Specialist properties)

Personal/ Individual required ICR is 160%
****
LTD Company required ICR is 145%
****

• Minimum stress rate applicable for rental cover purposes is 5.5%, or the initial pay rate plus 1.55%, whichever is higher.
• Remortgages where no additional borrowing is being raised are not subject to a minimum stress rate, with rental cover assessed against the initial pay rate plus 1.05%.
• 5 year fixed rate applications are stress-tested at the initial pay rate, with no additional margin or minimum rate applicable.
Remortgage of Residential into BTL accepted
No
Missed mortgage payments over 3 years considered
Paid direct to lender at the lender fee scales
25 years
Will lend in England and Wales.
Maximum 4 Applicants. Including SPV Limited Company
Access to Kent Reliance is direct to lender with 3mc as your payment route
Soft foot print, hard foot print upon full application

Full Details

View Lender Page

Property Value

£75,000 (£150,000 - London) Standard - £150,000 (£300,000 - London) HMOs & Multi Units

75000-100000, 100000-150000, 150001-10000000
Advance (min)

£50,000 including HMO
£150,000 for 3mc exclusive
Income

£30,000 across all applicants

£30,000 across all applicants
Maximum Age

85 at the end of the mortgage term
85 at the end of the mortgage term

Type/Commercial

Houses
New builds (with full certificates in place)
Flats
Maisonettes
Apartments including new builds
HMOs (up to 15 rooms) and Multi Unit Freehold
HMOs with kitchenettes will be limited to 70% LTV
Flats in blocks up to 5 storeys
Flats up to 10 storeys In Greater London
accepted subject to valuers commentary.
Ex-local authority flats considered If in a privately owned block (Greater London only)

Houses New builds (with full certificates in place) Flats Maisonettes Apartments including new builds HMOs (up to 15 rooms) and Multi Unit Freehold HMOs with kitchenettes will be limited to 70% LTV Flats in blocks up to 5 storeys Flats up to 10 storeys In Greater London accepted subject to...
Historic CCJ's & Defaults

Tier 1. No CCJ or defaults in last 5 years. Tier 2. No CCJ in last year. 1 in past 2 years must be satisfied at completion. No defaults in past year. 2 in past 2 years.

Tier 1. No CCJ or defaults in last 5 years. Tier 2. No CCJ in last year. 1 in past 2 years must be satisfied at completion. No defaults in past year. 2 in past 2 years.

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5.5%

Portfolio Landlord Criteria

– Maximum of 20 loans to £5 million total BTL borrowing with Lendinvest
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Not required
– Asset & Liability Statement – Not required
– Cashflow Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
Single units : - £750,000 up to 70% and 75% LTV £500,000 up to 80% LTV

Multi unit Up to 70% LTV - £750,000.

HMO - £500,000 up to 75% LTV
£750,000 up to 70% LTV

Up to £5mill with a maximum of 20 properties aggregated.
7 years
30 years
65 years at the end of term
Yes, can consider
Accepted
Accepted
No minimum although valid explanation required if remortgaging prior to 6 months
Must have 3 year UK residential history and permanent right to reside (tier 2 Product pricing)
Accepted
Accepted
Single Unit Properties: –
Basic rate taxpayers (20%) 125%

Limited company or LLP 125%

Higher rate taxpayer (40%) 140%

Additional rate taxpayer (45%) 140%

Refinance (no capital raised) 125%

HMO / Multi units
Basic rate taxpayers (20%) 130%

Limited company or LLP 130%

Higher rate taxpayer (40%) 145%

Additional rate taxpayer (45%) 145%

Refinance (no capital raised) 135%

@ 5% or 4.19% if using 5 year fixed product
No
No credit scoring, credit check only
Please see product guide for further details on valuation fees.
21 years
2 indivdual, 4 Company Directors
Access to LendInvest is available via selected packagers only, of which 3mc are one

Full Details

View Lender Page

Property Value

Single residential units - £50,000 up to 70% LTV. Over 70% LTV, minimum valuation of £70,000 applies. HMO - £100,000, MUB - £175,000 in L&SE, £125,000 in all other locations. Ex Local authority flats/maisonettes min £80k outside London, £200k in Greater London up to 80% LTV.

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£25,000
Income

No minimum income

No minimum income
Maximum Age

85 at the end of the term as standard (not a company structure). 95 at the end of the term for company BTL
85 at the end of the term as standard (not a company structure). 95 at the end of the term for company BTL

Type/Commercial

Flats LTV's available up to scheme limits. High rise flats must have a lift if over 4 floors (Ground+ 3 floors).

No lift required if the flat is on one of the first 3 floors above ground, irrespective of the number of floors in the block.
- Will not lend on properties above a public house
- Flat roofs considered on flats.

Flat roofs on flats are considered - Flat roofs on houses are based on valuers comments if greater than 25% of the roof area , and assessed on an individual basis on mortgageability & saleability.

High quality flats over 10 storeys (maximum 20) can be referred for underwriter consideration based on valuer’s comments on mortgageability & saleability

Flats above commercial Flats situated above commercial premises: Max 75% LTV
Premises Flats situated above restaurants/ takeaways/ launderettes: Max 60% LTV

Studio flats - 30sqm or more considered.

New Build Accepted up to scheme limits. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable warranty

Properties off-plan Not accepted

Max LTV Up to scheme limits except where restrictions apply

Flat Roofs Accepted

Solar Panels Consent to roof space leases for the installation of photo-voltaic (solar) panels, can be agreed subject to the joint CML and BSA published minimum requirements being met

Limited Companies & Partnerships
Minimum & Maximum Number Minimum 1 of Shareholders/Directors Maximum 4

Business Classification • 68100 Buying and selling of own real estate
SIC Codes) for SPV's only

• 68209 Other letting and operating of ow n or leased real estate
• 68320 Management of real estate on a free or contract basis
• 68201 Renting and operating of Housing Association real estate

Company Registration England & Wales Only
Trading Companies Acceptable. If existing Limited Company trading under a different SIC code, 1 year’s Accounts & SA302 required

Flats LTV's available up to scheme limits. High rise flats must have a lift if over 4 floors (Ground+ 3 floors). No lift required if the flat is on one of the first 3 floors above ground, irrespective of the number of floors in the block. - Will not lend...
Historic CCJ's & Defaults

Vida 1, No registered CCJs or Default in last 48 months. No Unsatisfied CCJs

Vida 2, No registered CCJs or Default in the last 36 Months. No Unsatisfied CCJs

Vida 3, 1 Registered CCJ or Default in last 24 months (includng unsecured defaults) (0 in last 18 months of £250 or more). Max £5000 unsatisfied CCJs

Vida 4, 2 Registered CCJ's or Defaults in last 24 months (including unsecured defaults) (0 in last 6 months of £250 or more) Max £5000 unsatisfied CCJs

Missed Secured/Mortgage Payments: -

Vida 1: 0 Missed Mortgage/Secured Loan Payment in last 36 months and Maximum Current Status 0 in the last 36 months.
Vida 2: 0 Missed Mortgage/Secured Loan Payment in last 12 months and Maximum Current Status 1 in the last 24 months.
Vida 3: 0 Missed Mortgage/Secured Loan Payment in last 12 months and Maximum Current Status 2 in the last 24 months.
Vida 4: 0 Missed Mortgage/Secured Loan Payment in last 6 months and Maximum Current Status 2 in the last 24 months.

Vida 1, No registered CCJs or Default in last 48 months. No Unsatisfied CCJs Vida 2, No registered CCJs or Default in the last 36 Months. No Unsatisfied CCJs Vida 3, 1 Registered CCJ or Default in last 24 months (includng unsecured defaults) (0 in last 18 months of £250...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_hmo_upto_6, type_hmo_upto_8
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Average 80% LTV for the overall portfolio
– No minimum rental stress requirements

Portfolio Landlord Criteria

– Up to 20 properties with Vida to an aggregate borrowing of £2m
– Maximum 50 properties in total with Vida, other lenders & unencumbered units

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Cashflow Statement – Case by case
– Asset & Liability Statement – Case by case
* Lender will accept client versions so long as covers the lenders minimum requirements
£750,000 to 80% LTV

£1,000,000 to 75% LTV

£1,500,000 to 65% LTV
5
40
C&I loans minimum of 40 years lease remaining. I/O or part and part, 70 years remaining
DSS Tenants are now acceptable
Accepted from close relatives, ie parents, grandparent, sibling, step relatives, child and spouse etc
Considered when the property is being purchased from a close relative only - 5% required by the applicants
6 months -If less than 6 months, will allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees. Capital raising is not accepted.
Yes (unless Ex-Pat).
All new builds considered. Mortgage offers valid for 6 months from data of issue and if required we may extend for a further 6 months on the same product.
*****
Builder’s or Vendor’s deposit: -
Acceptable on new build purchases only providing incentive does not exceed 5% of the purchase price
Houses are considered up to scheme and LTV limits, and flats/maisonettes £80,000 outside Greater London, £200,000 within up to max 80%, subject to conditions
Based on the higher of notional rate or product rate. When £ for £ remortgaging the notional rate is 5% otherwise 5.5% applies. 5 year fixed rate is based on the product rate.
Limited Company – 125% (can top up from 115% with surplus income subject to affordability)
Lower Rate Tax Payer – 125% (can top up from 115% with surplus income subject to affordability)
Higher Rate Tax Payer – 145% (can top up from 120% with surplus income subject to affordability)
HMO/MUB – 130% for Ltd Co and BRT, 140% for HRT (no top up allowed)
Accepted, providing customer confirms that the property is being let out for investment purposes. Vida can lend on both the BTL and/or residential loan

If BTL is with another lender, we require a copy of the offer
Credit check only
Vida 1 - 0 missed payments in last 36 months Vida 2 - 1 in last 24 months (0 missed payments in last 6 months) Vida 3 and 4 - 2 in last 24 months (0 missed payments in last 6 months)
Valuation fees paid direct to lender at the lender fee scales. Product fee: loans <= £250k are £1495. > £250k are 1.00%. Can be added to the loan above max LTV limit.
21 (Primary applicant), 18 for all other applicants if a direct family member
Will lend in England, Wales and Scotland - currently lending in postcodes G, EH, PA (1 to 19 only),
DD, FK, KY, KA, AB (10 to 41, 51 to 55, 99) IV (1 to 32, 36 & 63), and ML.
4 applicants
Access to Vida is available via selected packagers only
Soft foot print

Full Details

View Lender Page

Property Value

£60,000

0-74999, 75000-100000, 100000-150000, 150001-10000000
Advance (min)

£26,000
Income

No minimum income
Net profit/income + other provable disposable income* x 50% must exceed all secured lending payments.

No minimum income Net profit/income + other provable disposable income* x 50% must exceed all secured lending payments.
Maximum Age

Term must end on or before the customer's 80th birthday
Term must end on or before the customer's 80th birthday

Type/Commercial

Limited companies and Trading companies accepted

HMO's, Multi units and Student lets

Semi Commercial

Holiday let product available

- Up to 65% LTV on loans up to £500k
- Up to 50% LTV on loans greater than £500k (above 50% LTV by referral)

AirBNB considered up to 65% LTV on the specialist range.

Limited companies and Trading companies accepted HMO's, Multi units and Student lets Semi Commercial Holiday let product available - Up to 65% LTV on loans up to £500k - Up to 50% LTV on loans greater than £500k (above 50% LTV by referral) AirBNB considered up to 65% LTV on...
Historic CCJ's & Defaults

Commercial mortgages - CCJs/Defaults older than 24 months ignored.
Up to 6 in last 24 months accepted.
Satisfactory explanation required for all CCJs/Defaults
Specialist BTL - CCJs/Defaults older than 12 months ignored. Up to 6 in last 12 months accepted.
Satisfactory explanation required for all CCJs/Defaults

Commercial mortgages - CCJs/Defaults older than 24 months ignored. Up to 6 in last 24 months accepted. Satisfactory explanation required for all CCJs/Defaults Specialist BTL - CCJs/Defaults older than 12 months ignored. Up to 6 in last 12 months accepted. Satisfactory explanation required for all CCJs/Defaults

Intermediary Status: da_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_commercial, type_semi_commercial, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:0-74999, 75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Maximum 75% LTV for the overall portfolio
– No minimum rental stress requirements if no secured arrears in the last 12 months. If secured arrears in the last 12 months then 125% (Basic rate taxpayer/Ltd Co) at the current mortgage payments, 145% (Higher rate taxpayer) at the current mortgage payments, 165% (Additional rate taxpayer) at the current mortgage payments

Portfolio Landlord Criteria

– No limit on the amount of lending with Together
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Not required
– Asset & Liability Statement – Not required
– Cashflow Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements
£2,000,000 up to 60% LTV.
£500,000 up to 70% LTV.
£250,000 up to 75% LTV.
7 years 2 years (Together+ 2 year fixed product)
30 years
Minimum 50 years plus the term of the loan
Yes
Yes
Yes
No minimum ownership period
We are happy to proceed with applicants who have passports from the following countries: Any EU country, Switzerland, Channel Islands, Switzerland, USA, Australia, Canada and New Zealand. These applications must be witnessed and advised by a solicitor. Any applicants who do not have a UK Passport or a Passport from the list above are subject to underwriter referral.
Accepted up to 65% LTV (75% by referral)
Commercial products - Accepted up to 55% (65% by referral)
Specialist BTL products - 60% LTV - 65% by referral.
If Buy-to-let: Rental income must be a minimum of 120% of the total secured lending repayments. IF rent is less than 120% of secured lending repayments then additional income acceptable with a Declaration of Income and Affordability. Rental income plus other provable disposable income * 50% must exceed secured lending payments
No
No
Arrears accepted. Satisfactory explanation required for all arrears.
Valuations to be conducted using commercial valuation panel. Must be dated in last 2 months. Drive by valuation bypass available on residential securities on loan cases up to £75,000
18 years old
Will lend in England, Wales and Scotland
4 applicants
Packaged only
Hard foot print

Full Details

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Property Value

Loan to value maximum 70% based on acceptable valuation

75000-100000, 100000-150000, 150001-10000000
Advance (min)

Bank preference - £150,000 for new borrowers
Income

Occupier - Minimum capital and interest cover to be 130%.
Investor – Minimum 130% of net rental income. The Bank would normally look to allow a 10% deduction from Gross rents for administration and operating costs.

Occupier - Minimum capital and interest cover to be 130%. Investor – Minimum 130% of net rental income. The Bank would normally look to allow a 10% deduction from Gross...
Maximum Age

No maximum age
No maximum age

Type/Commercial

Commercial Property Valuation includes offices, modern industrial/warehouse units, modern factory units, and retail units with or without living accommodation, investment properties (commercial/residential)
Business Valuation – Commercial includes purpose built hotels, guest houses, bed & breakfast, with more than 6 letting rooms, purpose built restaurants, take-aways or restaurant units with letting rooms, purpose built healthcare premises. All must hold current and appropriate licences and planning permissions.
Business Valuation – Residential includes apartment blocks or single title HMO’s and Buy-to-Let properties. Freehold and long leaseholds.
HMO’s include Purpose built properties that hold Sui Generis planning for multiple occupation or C4 planning. The Bank will also accept converted properties from C3 under Permitted Development Rights (PDR) where a subsequent Certificate of Lawful Development is held.
Available to trading Ltd Co. SPV’s and individuals. Plus Lending to Trust’s, SIPP/SAS
Allow single name into a limited company name using a directors loan and must be at market value
Must be UK registered
First charges on land and buildings, personal guarantees from business owners/directors required.
Acceptable property includes
Freehold and long leasehold (min 40 years on expiry of loan) commercial only.
Freehold and long leasehold (min 70 years on expiry of loan) residential only. HMO’s will be considered for licence holding operators with appropriate experience.
Plus Lending to Trust’s, SIPP/SSAS
Allow single name into a limited company name using a directors loan and must be at market value
Must be UK registered
First charges on land and buildings, personal guarantees from business owners/directors required

Commercial Property Valuation includes offices, modern industrial/warehouse units, modern factory units, and retail units with or without living accommodation, investment properties (commercial/residential) Business Valuation – Commercial includes purpose built hotels, guest houses, bed & breakfast, with more than 6 letting rooms, purpose built restaurants, take-aways or restaurant units with letting...
Historic CCJ's & Defaults

A maximum of one satisfied CCJ/Default up to the value of £2000 within the last 24 months, with none in the last 12 months. Any CCJ's prior to the 24 month period must be satisfied.

Unsecured arrears - for Mail order, Utility accounts, communication contracts & credit cards.

Underwriter can consider up to 4 missed/late payments on 1 individual account or 4 missed/late payments
(4 individual accounts) across a combination of accounts where combine value is less than £500

***********
For Prime Rates - No CCJ/Default within the last 24 months regardless as to whether they have been satisfied.
Light adverse rates - Maximum of one missed mortgage payment in the last 24 months, with none in the last six months
********
Prime Rates - No missed mortgage payments in the last 24 months.

No IVA or Administration Order registered within the last six years regardless of whether it has been satisfied or completed.

No Bankruptcy Order within the last six years regardless of whether it has been discharged.

No Debt Management Plans, whether current or over 12 months old.
******

Explanations for all CCJs, defaults, secured/unsecured arrears bankruptcy discharges,IVAs, debt management agreements, pay day loan agreements will be required at decision in principle or full mortgage application.

A maximum of one satisfied CCJ/Default up to the value of £2000 within the last 24 months, with none in the last 12 months. Any CCJ's prior to the 24 month period must be satisfied. Unsecured arrears - for Mail order, Utility accounts, communication contracts & credit cards. Underwriter can...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_ltd_trading, customer_ltd_expat, customer_expatriate
Property Type: type_single, type_multi_upto_5, type_multi_over_5, type_hmo_upto_6, type_hmo_upto_8, type_hmo_over_8, type_commercial, type_semi_commercial, type_holiday_let
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:75000-100000, 100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Maximum loan up to £10m
3 years
25 years (Commercial Owner Occupier and Commercial Investor) 30 years (Residential Investor)
Reviewed on a case by case basis
Accepted
Yes - 'Deed of Gift’ required from the family member to ensure there is no potential prior equitable charge.
Yes - 'Deed of Gift’ required from the family member to ensure there is no potential prior equitable charge.
No minimum ownership period before remortgage considered. Will lend against OMV within 6 months subject to criteria. Happy to consider a remortgage to 100% of funds spent and cost price on refurbished properties
Yes (unless Ex-Pat)
All new builds considered.
Houses and flats considered - Up to 70%
For residential and commercial investment units 130% coverage at the pay rate on a 25 year capital and interest basis
They have some flexibility on their DSCR or rental stress coverage
No
No
Considered on a case by case basis
Valuation fees paid direct to lender at the lender fee scale.
18 years
Will lend in England, Scotland and Wales
No maximum
Access to Cambridge Counties is available via selected packagers only.
Hard foot print upon full application

Full Details

View Lender Page

Property Value

£100,000

100000-150000, 150001-10000000
Advance (min)

£30,000
£60,000 for HMO
Income

£25,000

£25,000
Maximum Age

No maximum age. For any loan that extends into an applicant’s retirement, or beyond the age of 75, (whichever occurs first) retirement income must be evidenced and affordability proven.
No maximum age. For any loan that extends into an applicant’s retirement, or beyond the age of 75, (whichever occurs first) retirement income must be evidenced and affordability proven.

Type/Commercial

HMO's up to 6 bed rooms - defined as large HMO's, 4 bed HMO's are considered to be on "Small" range
Property must be let on an AST
Rental assessment is based on occupation by 1 family on an unfurnished let
For porfolio landlords the maximum LTV INCLUDING fees is 75%
Minimum energy performance rating of E on an Energy Performance Certificate (EPC)
All Shareholders in the Company must be named as Directors
Latest set of accounts to be provided (where the company has been set up for more than 18 months)
All Shareholders in the Company must be named as Directors
Guarantees required from directors
Details of all properties each Director has an ownership in (either in own name or a business name) must be provided

HMO's up to 6 bed rooms - defined as large HMO's, 4 bed HMO's are considered to be on "Small" range Property must be let on an AST Rental assessment is based on occupation by 1 family on an unfurnished let For porfolio landlords the maximum LTV INCLUDING fees is...
Historic CCJ's & Defaults

Small amounts of adverse all satisfied will be considered

Small amounts of adverse all satisfied will be considered

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_expatriate
Property Type: type_single, type_hmo_upto_6
Max Age: max-age-70-75, max-age-76-80, max-age-81-85, max-age-above-85
Property Value:100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Maximum 75% LTV for the overall portfolio both individually & collectively
– A minimum rental stress of 125% at pay rate both individually & collectively

Portfolio Landlord Criteria

– Up to 10 properties with Saffron to an aggregate borrowing of up to £1.5m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
– Cashflow Statement – All cases
* Lender will not accept client versions of the documents
£1,000,000 to 80% LTV (Anything above, referred) or product specific
5 years
35 years
50 years remaining on the lease at the end of the mortgage term
No
Yes - they require a letter stating no repayment will be made and no interest in property
Yes - Provided the valuation is confirmed by the valuer as being the true value and the correct level of Stamp Duty is being paid i.e on the full price
Minimum time previously owned by vendor AND minimum time owned before remortgage is: -
6 months.
Yes, Regulated BTL criteria applied
Yes (unless Ex-Pat)
Max 75% LTV on C&I repayment
Max 60% LTV on Interest Only
Houses - Refer
No to flats.
Pound for pound remortgages – 125% of pay rate

Limited Company – Rental cover 125% of pay rate + 2% or 5.5%, whichever is higher

Limited Company – Rental Cover on debt for debt re-mortgage cases 125% of pay rate. Fees may be added to the loan

HMO – 160% of either pay rate + 2% or 5.5%, whichever is higher. Rental Cover on debt for debt re-mortgage cases 160% of pay rate.

5 year fixed rate – New purchase or capital raising – 140% at Pay rate

Any other scenario, either pay rate plus 2% x 140% or 5.5% by 140%, whatever is the higher
Based upon Interest only BTL mortgage payment.
Rental assessment will be based on 1 single family
Yes, after 6 months ownership for Residential to Buy to Let conversion
Yes - required 600+ on Experian
None in last 12 - 2/3 years considered by exception
Paid direct to lender at the lender fee scales
25 years
Will lend in England and Wales.
Maximum 4 applicants and directors. Guarantees required and individual searches will be conducted
Access to Saffron is available via selected packagers ONLY, select 3mc as your route.
Soft foot print

Full Details

View Lender Page

3mc | Mortgage Packager & Distributor

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