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Specialist BTL/Semi Commercial

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The criteria provided below is accurate as at 22.07.24

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Moda Mortgages

Property Value

Outside London:
Standard properties (Houses/Flats/Maisonettes): £75,000
HMO properties: £100,000
MUFB properties: £50,000 per unit

London:
Standard properties (Houses/Flats/Maisonettes): £150,000
HMO properties: £250,000
MUFB properties: £150,000 per unit

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

£25,000
Income

Minimum earned income
• Where all applicants are first-time buyers, at least one applicant must have a minimum income of £30,000

• No minimum income requirements on loans under £1m, but applicants will need to be able to cover rental voids should they arise

• For loans over £1m, a minimum income of £100,000 is required from at least one applicant

• Income can be from multiple sources associated with the individual; proof of income must be provided

Will not accept aggregated income of £100,000 across multiple applicants

EMPLOYED APPLICANTS:
Employed
• PAYE applicants must have been in their current role for a minimum of three months and have 12 months of continuous employment
• Applicants on a fixed-term contract basis are acceptable, provided they’ve been in continuous employment
• Zero hour contracts are only permitted when the secondary applicant (i.e. not the main income earner) is employed on this basis
• Where an applicant has a shareholding of 25% or more or is responsible for the overall payment of their tax and national insurance, they’ll
be classed as self-employed
• Casual or seasonal employment is not acceptable
• Company directors who own less than 25% of the company shares are treated as employed

SELF EMPLOYED:
Self-employed
• Applicants must have been trading for a minimum of 12 months
• Where a company director owns more than 25% of the company shares, they must be treated as self-employed
• Income should be referenced from the latest year

Minimum earned income • Where all applicants are first-time buyers, at least one applicant must have a minimum income of £30,000 • No minimum income requirements on loans under £1m,...
Maximum Age

85 at the end of the mortgage term

85 at the end of the mortgage term

Type/Commercial

Acceptable property types
• Standard houses (single residential dwelling unit) – detached, semidetached, terraced, cottage and bungalow
• Flats/maisonettes/apartments –
• Must be self-contained with private facilities and access to the highway
• Must not contain more than 20 storeys in the block
• Ex-local authority flats/maisonettes accepted where the block is predominantly owner occupied
• Flats above or near commercial properties can be considered if they’re good quality
• Minimum floor area of 30m2

Basement flats –
• Only accepted within London
• Minimum floor area of 30m2
• Studio flats –
• Maximum 70% LTV
• Minimum floor area of 30m2

Houses of Multiple Occupation (HMO) MAX 6 BED – defined as a property where there are a minimum of three tenants in occupation who form more than one household and share toilet, bathroom or kitchen facilities

• Multi-unit freehold blocks (MUFB) – defined as a single structure that contain separate units or flats that are not subject to individual leases and therefore the property remains on one freehold title (minimum floor areas of 30m2 per individual unit)
• Individual units must be completely self-contained and meet prevailing property criteria including minimum valuation figures and rental calculations

Acceptable property types • Standard houses (single residential dwelling unit) – detached, semidetached, terraced, cottage and bungalow • Flats/maisonettes/apartments – • Must be self-contained with private facilities and access to the highway • Must not contain more than 20 storeys in the block • Ex-local authority flats/maisonettes accepted where the...
Historic CCJ's & Defaults

Bankruptcy: Prime and non-Prime - NO

Individual Voluntary Arrangement (IVA) Prime and non-Prime - NO

Active Debt Management Plan: Prime and non-Prime - NO
Repossession/secured default: Prime and non-Prime - NO

County Court Judgment (CCJ) Prime: Nil 0 in 24 months. NON-PRIME: 1 in 36 months

Defaults: Prime: Nil 0 in 12 months. Non-Prime: 2 in 24 months

Missed mortgage/secured loan repayments: Prime: - Nil. Non-Prime: - 0 in 12 months, worst status of 1 in 36 months

Missed unsecured loans/products: - Worst status of 1 in 12 months, 2 in 36 months
Worst status of 1 in 12 months,
3 in 36 months
Active payment arrangements Nil Nil

Bankruptcy: Prime and non-Prime - NO Individual Voluntary Arrangement (IVA) Prime and non-Prime - NO Active Debt Management Plan: Prime and non-Prime - NO Repossession/secured default: Prime and non-Prime - NO County Court Judgment (CCJ) Prime: Nil 0 in 24 months. NON-PRIME: 1 in 36 months Defaults: Prime: Nil 0...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, tma_intermediary, trm_intermediary, tenet_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 or properties (external to ModaMortgages), 20 loans WITH ModaMortgages

Portfolio Landlord Criteria

– Maximum portfolio lending held with ModaMortgages is £5,000,000.
– No limit on the size of existing portfolio with other lenders

-Background Portfolio should stress at a minimum of 125% on the higher of current mortgage payments or 5%

Additional Document Requirements

– Business Plan – All cases
– Asset & Liability Statement – All cases

* Lender will accept client versions so long as covers the lenders minimum requirements
£2,000,000

Maximum LTV (based on net loan amount)
• Loans between £25,000 and £1m: Maximum 75%
• Loans between £1m and £2m: Maximum 70%
Individual products may have different restrictions, see our product guide
5 years
35 years
Leasehold acceptable subject to there being a minimum of 50 years unexpired on the lease at the end of the mortgage term. Extension to leases can be considered subject to the extension being legally completed prior to completion – evidence of this must be provided Flying freeholds are acceptable provided the percentage does not exceed 15% of the total area
No: Further info below: Tenancy agreements for tenants in the following categories are not acceptable: • Asylum seekers • Persons with diplomatic immunity • Employees of the applicant
Yes, cash gift from a family member. Subject to underwriting,
No
6 months
Yes, required.

In all cases, we require two years of UK residential address history
EEA and Swiss Nationals EU citizens are acceptable, providing they have a two-year UK residential history and must provide valid evidence that settled or pre-settled status has been granted under the EU Settlement Scheme.

A UK Government Home Office letter confirming settlement status cannot be used as evidence

Non-EEA nationals Must have been resident in the UK for the last two years and have permanent rights to reside in the UK

Diplomatic immunity Is not accepted if diplomatic immunity applies to immunity from UK law
A new build property is defined as a property constructed or converted within the last 12 months, and or has not been previously occupied

• New builds/conversions/converted properties may be considered

• For new builds which have not been previously occupied, the conveyancer will be required to obtain a completed Disclosure of Incentives Form (DIF)

No new builds or conversions (defined as built/converted in the last 12 months and/or has not been previously occupied)

For new build properties and those less than 10 years old, a building warranty from one of the providers shown to the right should be in place:

Advantage HCI: - International Construction Warranties (ICW)
Aedis Warranties: - LABC
Ark Residential New Build Warranty: -NHBC Guarantee
BOPAS: - One Guarantee
Build Assure: - Premier Guarantee Scheme
Building Life Plans: - Professional Consultants Certificate (previously Architect’s Certificate)
Buildzone: - Protek
Checkmate (Castle 10): - The Q Policy
Global Home Warranties: - Zurich Municipal ‘New Build’

Please note that we’re unable to accept retrospective
Houses: Yes
Flats: Yes

Ex-local authority flats/maisonettes accepted where the block is predominantly owner occupied.

HMO: Where applicable, an application for any HMO licence required by the local authority must have been made before completion
Personal ownership – (Note: Higher and additional rate 140%)

Minimum portfolio
ICR% @ 5% 140%

Maximum portfolio
LTVs 80%

Limited company
Minimum portfolio
ICR% @ 5% 125%
Maximum portfolio
LTVs 80%
No
Soft search for DIP - do not score on full app.
Missed mortgage/secured loan repayments: Prime: - Nil. Non-Prime: - 0 in 12 months, worst status of 1 in 36 months
Paid direct to lender directly, at the lender valuation fee scales.
21. 18 is acceptable where the principal applicant is aged 21+.
England and Wales only.
Excluding Channel islands, Isle of Man and Northern Ireland.
2 for individuals, 4 for limited company (Ltd co)
Via 3mc as your packager
Soft at DIP, no score conducted at Full APP stage

Full Details

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Fleet Mortgages

Property Value

'- Standard property £50,000.
- HMO /MUFB £150,000 in LSE, £100,000 outside LSE.
- Ex-local Authority £150,000 in LSE, £75,000 outside LSE.
- Properties above or adjacent to commercial £100,000.
- Freehold property conversions £150,000 in LSE, £100,000 outside LSE.
- Other restrictions may apply.
Advance (min)

£25,001
Income

£15,000 (£25,000 for first time landlords).

£15,000 (£25,000 for first time landlords).
Maximum Age

95 years at end of term, 89 years at application.

95 years at end of term, 89 years at application.

Type/Commercial

Able to accept BTLs, HMOs and MUFBs in both personal and Ltd Co applications.
These also include (but not limited too) ex-local, above/adjacent to commercial and new builds.

Able to accept BTLs, HMOs and MUFBs in both personal and Ltd Co applications. These also include (but not limited too) ex-local, above/adjacent to commercial and new builds.
Historic CCJ's & Defaults

If within the last 3 years, we are able to accept status 1 and 2, as well as any CCJs and defaults under £250.

If within the last 3 years, we are able to accept status 1 and 2, as well as any CCJs and defaults under £250.

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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, max-age-above-85
Property Value:
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted
(Landlords are considered Portfolio Landlords if they have 4 or more mortgaged properties.)

Background Portfolio Requirements
– 75% max LTV for the overall portfolio.
– Currently stressed at 125@5%.
– Currently no limit on the size of the background portfolio, either in terms of number of properties or loan amounts.

Additional Document Requirements
– Portfolio Schedule to be submitted on the BTL Hub.
– Portfolio Landlord Questionnaire.
Up to £2,000,000 however restrictions do apply for certain property types
5 years
30 years
75 years
Yes
Accepted – immediate family only
We do not accept gifted equity, but we are able to consider gifted deposit where there is no money changing hands.
Within 6 months, provided land registry has been updated.
Yes
Yes
Yes
Standard products rental calculations, including standard HMO and MUBs, are based on 125% for standard rate tax payers and 145% for higher rate tax payers.

All limited company rental calculations, including for HMO and MUB products, are based on 125%.

Please refer to Fleet Mortgages Product Guide for more details on payrate calculations
No
Soft footprint on DIP hard at full app Equifax
Free valuation fees offered on standard BTL properties valued under £500,000. For properties over £500,000 or for HMO/MUFB, please see the Fleet Mortgages Product Guide for further information as this is subject to change. (Jan 2023)
21 years (25 years for first time landlords).
England and Wales only.
4
You can gain access to Fleet Mortgages via 3mc as your packager.

Full Details

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Landbay

Property Value

£65,000 Standard
£120,000 HMOs & Multi Units £75,000 for HMO in qualifying areas - BB, BD, CA, CW, DH, DL, FY (Excluding FY1-FY4), HD, HX, L, LA, M, NE, OL, PR, SK, TS, WA, WF, WN, YO if none of these, then £120,000

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

£30,000

Large Loan range: -
Min. loan size £1,500,000 million
Income

At least one applicant much be employed, or self-employed.
NB - Rental income can be included in combination or isolation.

No min income for landlords >24 months experience
FTL or Landlords with <24 months £25,000 combined income requirement

At least one applicant much be employed, or self-employed. NB - Rental income can be included in combination or isolation. No min income for landlords >24 months experience FTL or...
Maximum Age

95 at the end of the mortgage term for Ltd Co’s where one other director is under 85 at end of mortgage term

95 at the end of the mortgage term for Ltd Co’s where one other director is under 85 at end of mortgage term

Type/Commercial

Above Commercial - considered up to 75% LTV

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.

Trading Limited Companies are acceptable, however the company must have the related SIC code for property rental

Number of Floors restricted to 5

Property value must exceed £75,000
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.

Large HMOs/MUFBs up to 12 units

Above Commercial - considered up to 75% LTV 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. Trading Limited Companies are acceptable, however the company must have the related SIC code for property rental...
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, tenet_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, 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 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
£500,000 up to 80% LTV
£1,500,000 up to 75% LTV - HMO/MUFB
£1,500,000 up to 75% LTV on Standard properties

Large HMO - Max loan £1,500,000 up to 75% LTV

£750,000 max loan on new build properties

Large Loan range: -
Min. loan size £1,500,000 million

Max. loan size £2,000,000 million
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.
Maximum Loan to value 75%. Maximum advance on a new build is £750,000
Houses (Yes) Flats (Case by case basis). The majority of the block/immediate surrounding area should be privately owned.
ICR RULES FOR 1 AND 2 YEAR FIXED RATE AND TRACKER RATE PRODUCTS STRESSED AT THE GREATER OF: 5.5% OR PAY RATE + 2%

ICR RULES FOR 5 YEAR FIXED RATE PRODUCTS STRESSED AT PAY RATE

Higher Rate taxpayers and FTL for HMO & MUFB are loaded – please ensure that the rental check is done against the current product guide.

Where the application meets more than one of the above stress rates, the higher stress rate will apply. The underlying affordability of the background portfolio for an application will be considered against a minimum underlying ICR rate of 125% @ 5.00%.

Like 4 Like Debt consolidation

2yr Fixed Rate only

Stressed at 125% or 140% at the greater of 5.5% or product rate +1%
Can be considered if two of three criteria is met from the below: -

1. Existing landlord away from subject property
2. Subject property being let for >24 months
3. Onward residential purchase
No - currently the credit insight data is reviewed as oppose to score
£199 admin fee payable with valuation fee. 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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Birmingham Bank

Property Value

£135,000

100000-150000, 150001-10000000
Advance (min)

£100,000
Income

No minimum income required.

No minimum income required.
Maximum Age

85 years

85 years

Type/Commercial

Standard BTL, BTL Flats, Flats above commercial subject to valuers comments, Small HMO up to 6 rooms, Small MUFB up to 6 units

Standard BTL, BTL Flats, Flats above commercial subject to valuers comments, Small HMO up to 6 rooms, Small MUFB up to 6 units
Historic CCJ's & Defaults

CCJs
None in last 36 months

Defaults
None in last 36 months

Secured arrears
None in last 12 months Maximum 2 in last 36 months

Unsecured arrears
Maximum 2 in last 36 months

Bankruptcy/Debt Relief Order
None (6-year history)

IVA/Debt Management Plan
None (6-year history)

Repossession
None (6-year history)

CCJs None in last 36 months Defaults None in last 36 months Secured arrears None in last 12 months Maximum 2 in last 36 months Unsecured arrears Maximum 2 in last 36 months Bankruptcy/Debt Relief Order None (6-year history) IVA/Debt Management Plan None (6-year history) Repossession None (6-year history)

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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:100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements

– Minimum ICR or 125%
– Minimum overall LTV of 75%

Portfolio Landlord Criteria

– Up to an aggregate borrowing of £2m with Birmingham Bank
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements Portfolio Schedule – All cases
– Business Plan – On some cases
– Asset & Liability Statement – On some cases
– Cashflow Statement – On some cases
* Lender will accept client versions for all documents
£2,000,000

Max 75% up to £2m (portfolio of properties,)
Max 75% up to £1m for single property (standard or HMO/MUFB)
Max 70% >£1m- £2m for single property (standard or HMO/MUFB)
5 years
25 years
85 years at the start of the mortgage term
No
Acceptable unless the property is being purchased from the family member from which the gift originates. The gift must not be repayable and the person providing the gift cannot have a financial or legal interest in the security.
Acceptable unless the property is being purchased from the family member from which the gift originates. The gift must not be repayable and the person providing the gift cannot have a financial or legal interest in the security.
Remortgages are not acceptable where the security property has been owned, or the existing mortgage has been in place, for less than 6 months.

The exception to this rule is where the application is to exit a Bridging facility.

In these circumstances, the existing Bridging loan must have been in place for at least one month and any increase in capital value from the original purchase price must be validated by evidence that improvement works have been completed.

If no improvements have been undertaken lending should be based on the original purchase price.

Loans for the payment of outstanding tax liabilities, consolidation of bad debt or to support businesses in financial difficulties are not acceptable.
no
Yes, required.
Ex LA- Houses are acceptable.
Ex LA-Flats currently not acceptable
Standard BTL single and multiple properties

Basic Rate Tax payer & Limited Co = 125%
Higher Rate Taxpayer = 145%
HMO/MUFB single, multiple and mixed properties

Basic Rate Tax payer/Ltd Co – 130%

Higher Rate Taxpayer – 160%
No
Max 2 in last 36 months
Confirmed upon DIP acceptance
21 years
England and Wales only.
4
Via certain packagers, of which 3mc are one.
Soft search

Full Details

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Foundation (Solutions) Home Loans

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

Mixed-use (Part-commercial) - considered, check product range as it may be Solutions.

Green Mortgages available for the remortgage of properties with an EPC rating of C or above

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. Will not consider first time landlords
********
If block of flats has over 3 storeys with cladding, it will not be considered.
Ltd company considered - 1 director must meet criteria.
Based on AST rental - however, not required to have AST in place
No to serviced apartments

Short term lets are considered

F2 Range:

Extra Large HMOs- 9 bedroom plus
Semi Commercial- a combination of both residential and commercial use
Holiday Lets- using holiday let income
Extra Large loans- Up to £5m on an
20 bed HMO on a case by case basis.

CBTL would be applicable in the following circumstances:
• Property inherited from a relative
• Applicant/customer moved in with a partner and wants to keep the property and let it out
• Applicant/customer moving for work but wants to keep the property and let it out
• Applicant/customer remortgaging their current main residence on to a BTL mortgage, raising capital to purchase a new main residence.

CBTL only applies to individual applicants who are re-mortgaging their properties, so is not applicable to Limited Company or Portfolio Landlord applications.

Up to 10 Bed HMO's and up to 10 units on 1 title. They offer true no minimum income BTL lending. Mixed-use (Part-commercial) - considered, check product range as it may be Solutions. Green Mortgages available for the remortgage of properties with an EPC rating of C or above HMO's...
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, tenet_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_hmo_over_8, 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
Portfolio Landlords Accepted

Background Portfolio Requirements

– Maximum 75% aggregate LTV for the overall portfolio
– A minimum rental stress of 100% at 5.5% across the portfolio with at least 100% coverage for each mortgaged/unencumbered 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
Currently max loan across all ranges if 75% up to £1,500,000

£100,000 on low loan range (Available to Portfolio landlords only)
£2,000,000 on Large loan range up to 65% LTV
£2,000,000 on loan for both individual units and HMO/MUB up to 65%
£1,000,000 up to 75% LTV
£500,000 up to 80% and 85% LTV

Semi Commercial loans max £3,000,000
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.
Yes
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.

If looking to re-mortgage sole BTL, then need to have had existing BTL for 12

6 months for for a <6 bed HMO property) - special product.

(3 months if property purchased via bridging loan)

Day 1 remortgages as long as not on specials range
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
New build flats – up to 70% of the re-sale value

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.

Subject to valuer’s comments and an EWS1 If valuer asks for it

If block of flats has over 3 storeys with cladding, it will not be considered.
For Individual and Limited Company products: – 145% of pay rate (5 year fixed products) 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

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Family Building Society

Property Value

Minimum property value £120,000 (we have a little flexibility between £100-£120k), Ex Pat BTL tends to be min value £165,000 as minimum loan is £100,000 but again a little bit of flexibility)

100000-150000, 150001-10000000
Advance (min)

£45,000 (A small amount of flexibility can be applied to the amount on referral sometimes) Including Ex pat
Income

No income assessment carried out. Applicants should be able to cover a minimum of 3-month rental voids and confirm this on the application form.

Where a client does not have an income then proof may be sought of a reasonable amount of savings in the background. Rental income is a form of income though.

Furloughed Employees – We will use the 80% or 100% if topped up by employer subject to an employment reference confirming that they will be returning to their role. Extra caution will be taken with high-risk sectors such as Aviation.

No income assessment carried out. Applicants should be able to cover a minimum of 3-month rental voids and confirm this on the application form. Where a client does not have...
Maximum Age

Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)

Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)

Type/Commercial

Single units only.

Single units only.
Historic CCJ's & Defaults

No defaults in the last 3 years and any over 3 years must have been satisfied 3 years ago
CCJ's - will consider 1 satisfied under £500 in the last 3 years, all other CCJ's must have been satisfied over 3 years ago
1 communication supplier issue may be considered if under £500 and satisfying subject to a suitable explanation

Missed mortgage payments, 1 in last 12 months but none in last 6 months with a suitable explanation.

No defaults in the last 3 years and any over 3 years must have been satisfied 3 years ago CCJ's - will consider 1 satisfied under £500 in the last 3 years, all other CCJ's must have been satisfied over 3 years ago 1 communication supplier issue may be considered...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv, customer_expatriate
Property Type: type_single, type_multi_upto_5
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 – No Maximum Portfolio or LTV size if we are not lending on them
– A minimum rental stress – The portfolio should just be making a profit as a whole

Portfolio Landlord Criteria
– No maximum limit with us but looked at on a case by case basis – Each property that is brought to us must meet our criteria as a rule of thumb. We have internal limits so any portfolios should be discussed with us first to assess our current appetite

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

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Required
– Cashflow Statement – Not required
– Asset & Liability Statement – Required

* Lender will accept client versions so long as covers the lenders minimum requirements.
60% LTV to £500,000 property value and 50% up to £750,000 (£1million inside Greater London Area) to allow for Desktop valuation.
50% LTV to £3 million loan amount and 50% LTV above this
5 years
40 years
50 plus mortgage term
No
Yes, considered
Max Age AT Application - C & I 90 and Interest Only 89. (5 Year Term max at these ages)
6 months as a rule however if bought with bridging finance these can be considered sooner subject to a suitable explanation (e.g. Unable to mortgage at the time of purchase).
No
Yes, required
New Build houses accepted

Flats - No

New build is defined as built in the last 12 months, or has not previously been occupied.
LATS - No (inside M25 maybe considered by exception)

Houses - Yes

Accepted up to product maximum LTV, subject to the following conditions:
Standard Construction Only
No Deck Access
Valuers Comments
Individual or Ltd Co 145% at 6.79%. or variable rate if higher when the case is a purchase or capital raise remortgage. £4£
Remortgages are 130% at 6.79%. or variable rate if higher.

Cases on a 5 year Fixed can be assessed at Pay Rate x 145%/130% as before
Yes but only at 145% of Payrate on a 5 Year Fixed or 5.50 if not. 130% rule does not apply.
No
1 in last 12 months but 0 in last 6 months, 2 in last 36 months
Paid direct to the lender at the lender fee scales. Free Valuations on Residential Purchase and Remortgage cases up to £500,000 (Discount of £360 above that value)
18 years old
Will lend in England and Wales.
4.
Access to Family BS is available via selected packagers networks.
Hard on application with Equifax
1 years figures/ SA302's/ Accounts is accepted - however, they must meet the below: -
2 years is normally required, although an applicant with 1 year’s accounting information can be considered if the applicant:

Where possible we work off the latest years figures but reserve the right to use a 2 year average

- Has a track record in the trade; or is
- Able to demonstrate guaranteed income within the next accounting period; or
Moved purely from ST to Ltd Co same sole Director

Contract Workers - Min Contract £75,000 - Can then work of Contract income 46 weeks x Day rate

Full Details

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Vida Homeloans

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)

£100,000 - supersedes all minimum property values
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.

No restriction on number of storeys in a block of flats

No requirement for a lift above 4th floor

Flats near to or above bars, pubs and petrol stations considered

Multi-Unit Blocks (MUB) now available up to 6 units

Landlords considered with no experience when purchasing HMO or MUB

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.

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
Commercial element of mixed-use properties now allowed up to 40%
Premises Flats situated above restaurants/ takeaways/ launderettes: Max 60% LTV
Properties adjacent to public houses and petrol stations now considered
Properties with Possessory Titles now 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.

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

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

Vida will accept SPV applications where a Bounce Back loan (BBL) or a Coronavirus Business Interruption Loan (CBIL) remains active - subject to underwriter discretion

Flats LTV's available up to scheme limits. No restriction on number of storeys in a block of flats No requirement for a lift above 4th floor Flats near to or above bars, pubs and petrol stations considered Multi-Unit Blocks (MUB) now available up to 6 units Landlords considered with no...
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, tenet_intermediary
Customer Type: customer_individual, customer_ltd_spv, 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
– No maximum 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
Excludes FTB/ FTL and properties within the M25
£250,000 to 85% LTV - Property Type dependent.
£750,000 to 80% LTV - Property Type dependent. (Max LTV in Scotland)
£1,000,000 to 75% LTV
£1,500,00 to 70% 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 Gifted Deposits 100% gifted deposits considered from the following family members: spouse/partner, parent, child, grandparent, sibling, step relatives, foster parent or legal guardian. Overseas Deposit Deposits from an overseas account can be considered on a case by case basis Builder deposit/incentive Acceptable up to 5% of the purchase price on new build properties Purchase at Undervalue Acceptable where purchasing from a close relative, or a long-term tenant buying from their landlord Inter Co Loans - unable to consider intercompany loans as a source of deposit
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 applicants must provide 3 years address history. The latest year must show continuous residency in the UK.

However, Only 1-years’ UK residency required before application.

If married at least one applicant must have permanent rights to reside or indefinite leave to remain, both would need to be applicants on the mortgage but affordability must fit on only the applicant with permanent rights to reside or indefinite leave to remain.

All Non EEA Nationals must be resident in the UK for the last 2 years and have permanent right to reside in the UK.

Extended list of acceptable visas

Foreign Nationals will need to provide evidence of their right to reside in the UK. Those with a permanent right to reside, EU/EEA/Swiss with settled status or indefinite leave to remain can borrow up to scheme limits.
Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance:

EU/EEA/Swiss and Foreign Nationals

EU/EEA/Swiss with pre-settled status
Family visa
Tier 1 (Entrepreneur Visa only)
Tier 2 (Skilled Worker)
UK Ancestry Visa
British National (Overseas) Visa
Senior or Specialist Worker Visa
Health and Care Worker Visa
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 up to max 80%, subject to conditions. Flats/Maisonettes, minimum property value of £80,000 (£200,00 in Greater London).
2 year fixed: Product rate + 2%, 5.5% minimum.

2 year fixed £ for £ re mortgage: Product rate, 5% minimum.

5 year fixed Product rate.

140% Higher Rate Taxpayer

125% UK Basic Rate

125% UK Ltd Co’s/SPV

HMO/MUB – 130%, including Ltd Company HMO, 140% for higher rate tax payers.
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. Vida requires a simultaneous completion of a new residential for a Let to Buy. If this is not the case then the applicant is required to be out of the property with consent to let from their current lender.
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 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 AB (excluding 42-45,56). DD, EH (excluding 43-46), G, IV (excluding 4, 13, 19-63), FK, KA (excluding 6, 18, 19, 26-28) KY, ML and PA (excluding 20-80).
4 applicants
Access to Vida is available via selected packagers only
Soft foot print

Full Details

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Quantum Mortgages

Property Value

Single Unit / MUB & HMO Range £125,000
Specialist Range £70,000

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

Single Unit / MUB & HMO Minimum loan: £100,000
£25,001 on Specialist products and ex pat's
Income

No min income for UK applicants
Foreign National or Expat need min income of £35k GBP equivalent

No min income for UK applicants Foreign National or Expat need min income of £35k GBP equivalent
Maximum Age

Single Unit, MUB / HM0 85 years Specialist Range – NO maximum age

Single Unit, MUB / HM0 85 years Specialist Range – NO maximum age

Type/Commercial

Flats including studios below 30sqm, New build flats, Ex local authority flats with deck access up to 12 floors, High Rise, MUB, HMO, Holiday Lets, Airbnb, Semi Commercial Units, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or alcohol

Acceptable property types in Northern Ireland - Freehold HMO and Multi Units up to 6 beds.

Flats including studios below 30sqm, New build flats, Ex local authority flats with deck access up to 12 floors, High Rise, MUB, HMO, Holiday Lets, Airbnb, Semi Commercial Units, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or...
Historic CCJ's & Defaults

We can accept x 2 maximum CCJ’s or Defaults, they need to be under the value of £500 and satisfied in full with an explanation of why they occurred

We can accept x 2 maximum CCJ’s or Defaults, they need to be under the value of £500 and satisfied in full with an explanation of why they occurred

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_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, type_hmo_over_8, 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 (Example)

– No maximum LTV for the overall portfolio
– Portfolio stressed at 100% @ 5%

Portfolio Landlord Criteria (Example)

– Up to 20 mortgages with Quantum Mortgages to an aggregate borrowing of £5m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements (Example)

– Portfolio Schedule – Yes in the clients own format
Single Unit / MUB & HMO range £1.5m - 75% LTV - see below.

Specialist Range £1,000,000 unless:

Max loan for single unit range increased from £1.5M to £2M at 65% LTV (in southern postcodes only).
Max loan for multi-unit range increased from £1.5M to £2M at 65% LTV (in southern postcodes only).
Max loan for multi-unit range increased from £1M to £1.5M at 75% LTV (in Southern postcodes only).
Max Loan for Ex Pat range increased from £500k to £750k & £1M (in Southern postcodes only).
5 years
40 years
Min year remaining at the end of the term is 35 years
Yes – please note the AST must be in the tenants name.
Yes, any family member.
Yes, any family member.
Can consider less than 6 months ownership.

12 months ownership of x 1 BTL – Specialist range 2 BTL’s for 2 years.

Also: -

- Single Unit / MUB & HMO upto 6 units, Expat & Foreign Nationals - 1 BTL for 12 months - 0 required for lower LTV's
- Specialist Range - 2 BTL’s for a min of 24 months ownership
- DO NOT have to be owner occupier.
No
Yes, unless Ex Pat or Foreign national
Yes, houses and flats
Standard Range:
- The expiry of any pre-emption period
- Maximum of 5 floors
- At least 50% of the block is owner occupied
- A minimum value of £200,000
- No deck access
- Valuer to confirm the property is suitable security and, in an area, where demand for this type of property is not falling

Specialist Range:
Deck Access Flats
Ex local Authority houses and flats where the area owner occupation is less than 50%
Ex local Authority flats valued below £200,000 (subject to minimum £100,000)
Ex local Authority flats over 5 floors up to a maximum of 12 floors

Ex local authority flats with deck access up to 12 floors, High Rise, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or alcohol.
Basic Rate Tax Payer 125%,

Higher Rate 145%, Limited Company 125%

£ for £ remortgage none
No
No, credit check with Experian. Soft search
None in the most recent 12 months, 1 in 24 months. The mortgage must be up to date now with an explanation of the missed payment Late or missed payments considered with reasonable explanation. Refer
Paid direct to lender at the lenders fee scales, found on both the lender website and product guide.
21 years
England, Scotland, Wales and consider Northern Ireland
4 for individual and 4 limited company directors
Access to Quantum Mortgages is direct to lender with 3mc as your mortgage packager as well as direct as a mortgage club.
Soft, Experian

Full Details

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Shawbrook Bank

Property Value

£75,000 Exception is residential portfolios where min value is £50,000 for at least 2 properties. For properties under £100,000 - see specific product range

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

£50,000 for BTL
Commercial Loan minimum loan size is £150,000
£300,000 for Owner occupied/Trading Business unless commercial loan amount states otherwise. Check product guide to see if available.
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.

• Retail Units: 70% LTV for interest-only loans, and 75% on part or full capital repayment loans.

• GP Surgeries, Dentists, Vets, Nurseries: 75% LTV on interest-only or part and full capital repayment loans.

• Mixed Assets: where there are a mix of assets, Shawbrook are able to blend the LTV based on security values.

Maximum LTV 75% LTV on Industrial Units

Retail assets as acceptable security, but subject to underwriting.

Owner Occupied trading business considered - Nicknamed Opco/Propco. 2 years trading accounts required. 75% LTV
Interest only available
Check minimum loan amount!
£25mill max loan
The property value will be considered on a Vacant possession basis with reletting and resale demand within 12 months being required.

Shawbrook require, as a minimum, the provision of 12 months trading accounts to support the application. The applicant must have a minimum 2-year trading history.

70% LTV IO, 75% with 5% amortisation max 5 years

Individuals (UK and EU nationals residing in the UK)
LTD Company (UK Incorporated)
PLC (UK Incorporated)
LLP (UK Incorporated)
Trusts (Minimum Loan size £1m new loans, Refinances case by case)
SIPPS (Minimum Loan size £1m) and SASS's
Ex-pats
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.

Personal Guarantees: - As a minimum, a personal guarantee equal to 25% or £50,000 (whichever is higher) of the loan size will be required from all directors where they have more than a 25% shareholding.
For Complex Commercial loans a personal guarantee equal to 100% of the loan size will be required.

• 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

AVM's possibly available for Small HMO's that are valued on single dwelling basis
Thatched roofs have been added to ‘Non-Standard Construction’ types
Cladded blocks are unacceptable without a satisfactory EWS1 form

Shared Property purchases/Share purchase:

• No minimum or maximum loan sizes.
• Purchases must be at full market value and of property companies.
• Separate legal representation (these cases cannot proceed on a non-represented basis) and we do require customers to have had their own legal advice on the company acquisition.

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. • Retail Units: 70% LTV for interest-only loans, and 75% on part or full capital repayment loans. • GP Surgeries, Dentists,...
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.

CCJs - No unsatisfied in the last 24 months
Satisfied in the last 12 months considered by exception
Large (>£5,000) historic considered by exception

Mortgage / Secured Loan / Tenancy Arrears 0 missed in last 12 months

Defaults No unsatisfied >£100 in last 24 months

Unsecured borrowing (not including communications suppliers or utility companies)
No more than 3 instances of arrears or arrangements to pay in last 12 months

Bankruptcy/CVA/IVA - Discharged for at least 12 months

CIFAS - No adverse fraud data

Business Credit Profile:-
No history of the following within the last 36 months (this extends to associated companies):

Receivership
Administration order
Winding up petition
Creditors or Compulsory Liquidation
Disqualified director

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, tenet_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.

£300,000 minimum loan for owner occupied cases - Check product guide to see if available.
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.

Acceptable subject to:
Lease with a professional operator of emergency housing

Assumption of a standard AST with private rented sector tenants for affordability and viability of exit assessment (as opposed to lease rental income)

Property to be valued as a standard house or an HMO with no premium attributed to the lease

Private tenants in receipt of Housing Benefit or Universal Credit are also acceptable.

Properties let to operators who provide supported living can be considered, including dwelling-houses and houses in multiple occupation but must have planning use of C3 or C4; however, hotels and residential institutions (C1, C2, C2A planning) remain unacceptable security.
Semi Commercial/Commercial Rental Calculations:

Semi-Commercial CI2

Personal 145%

Limited Co 130%

Stress rate – Pay rate only

Commercial CI1

Personal 130% or 150%*

* 150% applicable to serviced offices, or Multi Let units with licences

Fixed rates stressed at the product pay rate

All variable rates are stressed using the product pay rate plus 1%

*********

BTL/HMO etc

BTL, Multi-Unit Blocks & Portfolios Single BTL, Complex BTL:

Personal 140%

Ltd Co 125%

Purpose Built, Student Accommodation, & Co-Living:

Single BTL + Complex BTL

Personal 150%

Ltd Co 150%

HMO & HMO Portfolios

Complex BTL, Large HMO

Personal 165%

Ltd Co 130%

Fixed Rates are stressed using the payrate.

All Variable loans are stressed using the product pay rate + 2%

Subject to a minimum 5.5%

*********

NB .Top Slicing is not acceptable in the following circumstances:

• On any Limited Edition products.

• Where the customer is a developer (Either an “out of the ground” developer or carrying out large
scale conversions – e.g. converting an office into residential).

• For a portfolio landlord where they have more than 10 financed rental properties (both with
Shawbrook and/or external Lenders).
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

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Paragon

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 - however, non-portfolio landlord income requirements differ to portfolio landlord.
Paragon can consider retained profit as long as the business does not required it for continued business. Such as an antique dealer.

Non-portfolio: -
Applicants should have a minimum combined gross annual income of £25,000 per annum.
Applicant’s income can include:
- gross employment income
- taxable self employed income
- Occupational or private pension income
Income from renting property, state benefits, state pensions and investment income will not be considered, but may be taken into account when calculating the tax band applicable to an applicant.
There is no minimum income requirement for expatriate applications, but details of all income must be provided.

Portfolio landlord income: -
Applicant(s) should have a minimum combined gross annual income of £25,000 per annum. All income must be evidenced and can include:
-Gross employment income
-Taxable self-employed income
Income from state benefits, state pensions and investments will not be considered, but may be taken into account when calculating the tax band applicable to an applicant.

£25,000 minimum - however, non-portfolio landlord income requirements differ to portfolio landlord. Paragon can consider retained profit as long as the business does not required it for continued business. Such...
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
Studio Flats @ 30sqm
Holiday lets considered
Short term finance also considered, see product guide.

Standard BTL investment properties such as a house or Flat Multi Units HMO's Studio Flats @ 30sqm Holiday lets considered Short term finance also considered, see product guide.
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, tenet_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
£4,000,000 to 65% LTV
£1,500,000 to 70% LTV
£1,000,000 to 75% LTV
£750,000 to 80% LTV both non-portfolio and portfolio landlords
£10,000,000 per customer max lending
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 DSS tenants Housing association tenants Corporate tenants Single family lets Sharers Students All above considered.
Yes
No
No restriction - refer.
Applicant / Company must own the property if it is a mortgage.
Yes
Yes
Yes - Refer
Expatriate applicants and LLP’s with expatriate members 140%
Limited company with expatriate directors 130%

Expatriate applicants and LLP’s with expatriate members 140%
Limited company with expatriate directors 130%

Please see product guide for rate use
Yes - Will consider let to buys with no onward purchase as long as the client has already moved out of the property upon the time of application – Consent to let is NOT required. Must have credit at the new address.
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

The Mortgage Lender

Property Value

£62,500 (for products assumes max 80% LTV).
£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)

£75,000 minimum loan for the latest product range
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 (First time landlords considered up to £350,000 loan)
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.

Corporate lets/SERCO - TML accept a maximum 6 month break clause on corporate lets.

HMO Leaseholds flats considered

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 (First time landlords considered up to £350,000 loan) 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. Corporate lets/SERCO - TML accept a maximum 6 month break clause on...
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, tenet_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
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 Submission form only – All portfolio landlord cases

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

Eligibility window for portfolios – Multi App product – 6 months for Portfolio landlords and 3 months for Non-Portfolio

Details of all properties held by applicants should be included in the Portfolio Schedule, including
unencumbered properties.
£3,000,000 up to 70% for a single unit/MUB BTL (Ind / Ltd co)
£2,000,000 up to 70% LTV for HMO
£1,500,000 up to 75% LTV for ALL property types
£2,000,000 up to 70% if New Build Flat / Above Commercial
Aggregate lending limit to apply to any type of property
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 and MUST NOT BE A FIRST TIME LANDLORD
No - except for Lumi RL0/ Top range. But do have a minimum credit 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 - Isle of Wight also considered
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

Precise Mortgages

Property Value

£50,000 or £150,000 in London postcode districts HMO minimum property value now £100,000, or £250,000 in London postcode districts

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

£75,000 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 6 bed - can also consider HMO' with 6 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 6 bed - can also consider HMO' with 6 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

Defaults 0 in 72 months
CCJs 0 in 72 months
Missed mortgage/secured loan arrears 0 in 36 months
Unsecured arrears 1 in 12 months, 2 in 36 months (worst status) - must pass credit score.

Payday loans, will be considered at dip stage
No adverse accepted in the last 3 months.

Defaults 0 in 72 months CCJs 0 in 72 months Missed mortgage/secured loan arrears 0 in 36 months Unsecured arrears 1 in 12 months, 2 in 36 months (worst status) - must pass credit score. Payday loans, will be considered at dip stage No adverse accepted in the last 3...

Intermediary Status: da_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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_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

– Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV.
– Click here to complete the online viability check

Portfolio Landlord Criteria

– Up to 20 mortgages with Precise Mortgages accepted – please see product guide
– 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
£1,000,000 to 70% LTV
£750,000 to 75% LTV

HMO/Ltd Co: -
Maximum loan:
£1,000,000 to 70% LTV
£750,000 to 75% LTV
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 for gift of equity from family members Ltd Co: - Equity gifts accepted from personal to Ltd Company. (Director's loan) - unless the minimum deposit has been met. Example: - will allow a sale below market value but will base LTV on the lower of the 2 prices. E.g: If immediate family had a BTL worth £150,000 he could sell it to applicant for £100,000. then Precise will allow that but they would lend at 80% of the £100,000 and the 20% deposit would need to come from the clients own sources. Will also consider 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.

EU Citizens

Applications submitted from 1st January 2021 where the applicant is an EU citizen they must provide a valid permanent residence document or evidence that settled or pre-settled status has been granted under the EU Settlement Scheme. This can be in the form of a letter from the Home Office confirming their settlement status or a Residence Card.

Settled status is awarded to EU citizens that can evidence a minimum of 5 years’ continuous residence in the UK, whereas pre-settled status applies to those who have not resided in the UK for 5 years. Those awarded pre-settled statuses can apply for settled status once the 5-year residence requirement can be met.
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%)

Higher rate and additional rate taxpayers calculated at 140%

Please visit BTL calculator at Precise BTL Calculator

Short-term fixed rates now assessed at pay rate plus 1.55% (minimum 5.50%)

Full description below of Precise Mortgages Criteria

********
Lower Rate Tax Payer: –
Tracker products – 125% @ higher of pay/revert rate + 2% (min 5.5%)

60% on a 5yr + fix

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

Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV

Interest Coverage Ratio (ICR) will be calculated between 125%-140% dependent on the applicant’s tax band and
individual circumstances.
Basic rate taxpayers 125%
Higher rate taxpayers 140%
Additional rate taxpayers 140%

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, earned income, or a combination of the two 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 or for remortgage applications.
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 No limit on the number of director dependant shareholders aged under 21
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

InterBay Commercial

Property Value

Core range:

Commercial /Semi-Commercial / Bridging Finance products:

£200,000

Buy To Let products: -

£1,000,000.

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

£100,000 for Semi-Commercial and Commercial units on Select and Core Range
£500,000 for BTL
£250,000 for Brigding
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

Select Range: - Semi-Commercial reduced product rates for properties with more than 55% residential value (DONE ON VALUE NOT UNIT VOL or SIZE)

HMO’s, student BTL. Multi-unit on 1 title, semi commercial and Commercial, no maximum bedrooms
75% Max for HMO/MUFB and Semi Commercial
75% LTV max for Commercial.

Holiday lets considered up to 75% LTV on a residential investment basis available for Ltd company also.

Commercial: 75% LTV - Acceptable usage
- selected retail (high street and suburban/neighbourhood precinct)
- Offices – 3 stories, single tenant & period/modern buildings
- Light Industrial / Storage / Distribution – post 1980s, max 20,000sqf, single or multi let, self-contained

Semi commercial
- 75% LTV
- £2m value (larger by exception)
- Acceptable usage
- selected retail (high street and suburban/neighbourhood precinct)
- office
- takeaways and restaurants/cafes
- pharmacies
- ICR to primarily be based on the Residential rental income only. The Commercial rental income can be utilised subject to validate that:
- the last 12 months rental payments have been paid, and
- there is at least 12 months unexpired term on the current lease
- No vacant commercial
- Investor and Owner Occupiers allowed
- Sales & Letting marketability of 12 months or less
- Immediate occupation only
- Lease review by solicitors

Owner Occupied: -

Owner occupier applications accepted where business been trading for 2 years and affordability calculated off adjusted net profit /EBITDA.

Select Range: - Semi-Commercial reduced product rates for properties with more than 55% residential value (DONE ON VALUE NOT UNIT VOL or SIZE) HMO’s, student BTL. Multi-unit on 1 title, semi commercial and Commercial, no maximum bedrooms 75% Max for HMO/MUFB and Semi Commercial 75% LTV max for Commercial. Holiday...
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, tenet_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

– Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV.

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
£1,500,000 to 75%. for single units - £70% LTV for <7 bed HMO/MUFB 80% LTV Maximum on single units and HMO/MUFB's Semi Commercial - 75% LTV Max Commercial unit - 75% LTV Max Exceptions and portfolios considered. Properties over £2,000,000 now 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 (80% LTV)
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 <7 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: The Debt Service Cover Ratio (DSCR) is 125% of pay rate

Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV.
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

Kent Reliance

Property Value

£75,000 min

100000-150000, 150001-10000000
Advance (min)

£50,000
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 20 beds (Over 8 bed - The client MUST already own a HMO property. Broker must call into Kent Reliance's team to discuss the Valuation options. Kent Reliance can also lend on student lets. Up to 6 flats on 1 title allowed. Available in SPV Ltd Co and individuals.
Must own a HMO already if a HMO application.

HMOs (Up to 20 beds) and MUFBs up to 10 bedrooms/ units – properties with 7 or more beds/units will be valued on a commercial basis

Up to 80% LTV to £3m on 1-6 bedrooms/units
First-time landlord options available on 1-6 bedrooms/units
Up to 80% LTV to £1.5m on 7-10 bedrooms/units

HMO's up to 20 beds (Over 8 bed - The client MUST already own a HMO property. Broker must call into Kent Reliance's team to discuss the Valuation options. Kent Reliance can also lend on student lets. Up to 6 flats on 1 title allowed. Available in SPV Ltd Co...
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, tenet_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

– Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV.

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
No maximum loan up to 85% LTV
£3,000,000 up to 80% LTV - if higher then it goes via BDM referral
Max 80% LTV and £1.5m for 7-10 bedrooms/ units

Up to 80% LTV to £3m on 1-6 bedrooms/units
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.

EU Citizens

Applications submitted from 1st January 2021 where the applicant is an EU citizen they must provide a valid permanent residence document or evidence that settled or pre-settled status has been granted under the EU Settlement Scheme. This can be in the form of a letter from the Home Office confirming their settlement status or a Residence Card.

Settled status is awarded to EU citizens that can evidence a minimum of 5 years’ continuous residence in the UK, whereas pre-settled status applies to those who have not resided in the UK for 5 years. Those awarded pre-settled statuses can apply for settled status once the 5-year residence requirement can be met.
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
Use the lender calculator for the accurate result: –

Kent Reliance Rental Calculator

****

Non-portfolio landlords: – please visit the Kent Reliance for intermediaries website to use their online calculator when the minimum ICR (Interest Cover Ratio) is not met, as they have flexibility to underwrite a case against clients individual borrowing.

Standard property

Limited company – 125% Rental cover

Personal ownership – 140% Rental cover

HMO/MUB

Limited company – 140% Rental cover

Personal ownership – 175% Rental cover

Variable, two and three-year fixed
The higher of… +1.55% or 5.50%

Five-year fixed – Initial pay rate

Remortgages with no additional borrowing
(excluding refinancing from bridging or commercial loans)

Initial pay rate – +1.05%

No minimum stress rate applies

Background portfolio ICR which must be a minimum of 125% ICR at 5.7% pay rate and a maximum of 85% LTV.
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

CHL Mortgages Specialist Buy To Let

Property Value

Standard property £75,000
Ex-Local Authority property £100,000
Studio flat £100,000

80% LTV available against ‘standard’ freehold and leasehold properties. Any construction type highlighted by our valuer as non-standard will be restricted to a maximum 75% LTV.
Non-standard property construction max LTV of 75%
Above/adjacent to commercial property max LTV of 75%
MUFB/HMO maximum LTV of 80%

Larger MUFB's - 75% Max LTV
The minimum property value of £150,000 for properties located within the M25, £100,000 elsewhere
At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
Maximum of 10 units in the block
All units must have separate services

Larger HMO's - 75% Max LTV
All types of HMO will be acceptable including licenced, C4 planning use, Sui Generis planning use, as well as properties requiring considerable alternation to sell as a family home
At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
Maximum of 10 bedrooms
No limit on the number of lettable rooms
Minimum property value of £150k for properties located within the M25, £100k elsewhere

Short term lets considered

Flat above/adjacent to Commercial £250,000 within M25 (£150,000 All other regions)
Shared House (single unit rental) £75,000
Shared House (room-by-room rental) £250,000 within M25 (£150,000 All other regions)
House of Multiple Occupancy £250,000 (£150,000 All other regions)
Multi-unit Freehold Block £150,000
Advance (min)

£25,001
Income

£20,000 combined income per application.

£20,000 combined income per application.
Maximum Age

85, mortgage term must end before the oldest applicants’ 86th birthday

85, mortgage term must end before the oldest applicants’ 86th birthday

Type/Commercial

Standard Freehold property max 6 bedrooms
Standard Leasehold house/flat/maisonette
Ex-local authority house
Ex-local authority flat/maisonette
Studio flats more then 30sqm
Flat above/adjacent to Commercial subject to valuers comments

75% for new build flats & ex-local authority flats

CHL - Light refurb range: - three products: Light Refurbishment, Cosmetic Improvement and EPC Improvement. The first two products are designed to increase the future asset/rental value of the property, with the latter a Green Mortgage option which is specifically designed to improve the energy efficiency of the property.

Lending will be calculated on the pre-works value with a retention held based upon the post-works estimated valuation.
75% Max LTV: -

- Cosmetic Improvement – designed for improvement works to improve the cosmetic appearance of a property, such as painting & decorating, replacement flooring, replacement fixtures and fittings
- EPC Improvement – designed for non-structural and modernisation works which can be signed off under the Competent Person Scheme without the need for building control sign off, with a requirement the collective works must improve the EPC rating of the property to a C or above
- Light Refurbishment – designed for non-structural and modernisation works which can be signed off under the Competent Person Scheme without the need for building control sign off

Larger MUFB's - 75% Max LTV
The minimum property value of £150,000 for properties located within the M25, £100,000 elsewhere
At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
Maximum of 10 units in the block
All units must have separate services

Larger HMO's - 75% Max LTV
All types of HMO will be acceptable including licenced, C4 planning use, Sui Generis planning use, as well as properties requiring considerable alternation to sell as a family home
At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
Maximum of 10 bedrooms
No limit on the number of lettable rooms
Minimum property value of £150k for properties located within the M25, £100k elsewhere

Will not consider properties where any of the following applies:
• Where they are regarded as unsuitable by the Valuer on the grounds of noise, smell or danger to Health and Safety.
• Where the Valuer advises that Anti-Social behaviour is possible due to the Commercial premises
• Where a property is above or adjacent to hot-food outlets, Public Houses, Night Clubs, Takeaways, Pet Shops, Workshops and Petrol Stations)

New Build house
New Build flat/maisonette
Shared House
House of Multiple Occupancy max 6 bedrooms

• Development exposure limits in any block increased to:
o Blocks of up to 6 units: Maximum of 6 units per block
o Blocks of 7 to 20 units: Maximum of 10 units per block; and
o Blocks of more than 20 units: Highest of 10 units or 20% per block

Short Term Lets
Properties let as an AirBnb, holiday let or serviced apartment are acceptable providing the valuer confirms
The security property is suitable for occupation under an AST;
The ICR calculation fits on the market rent based on an AST; and
There is demand for the property from both owner occupier and investor buyers

Standard Freehold property max 6 bedrooms Standard Leasehold house/flat/maisonette Ex-local authority house Ex-local authority flat/maisonette Studio flats more then 30sqm Flat above/adjacent to Commercial subject to valuers comments 75% for new build flats & ex-local authority flats CHL - Light refurb range: - three products: Light Refurbishment, Cosmetic Improvement and...
Historic CCJ's & Defaults

Unsecured Arrears: 0 in 6 months, Status 1 in 12 mths (Max. 1 instance), Status 2 in 24 months Secured arrears: 0 in 6 months, Status 1 in 24 months (Max. 1 instance)
Defaults: Unsatisfied max. £250 in 36 months. Satisfied max. £500 in 36 months
CCJ’s: Unsatisfied max. £250 in 36 months. Satisfied max. £500 in 36 months

CHL2 Range: (Updated September 2024)
• Unsatisfied CCJs: Max £250 in 36 months
• Satisfied CCJs: Max £500 in 36 months
• Secured arrears: 0 in 6 months, worst status 1 in 24 months (max 1 instance)
• Unsecured arrears: 0 in 6 months, worst status 1 in 12 months (max 1 instance), 2 in 24 months
• Defaults considered
• Utilities/Communications defaults can be ignored

Unsecured Arrears: 0 in 6 months, Status 1 in 12 mths (Max. 1 instance), Status 2 in 24 months Secured arrears: 0 in 6 months, Status 1 in 24 months (Max. 1 instance) Defaults: Unsatisfied max. £250 in 36 months. Satisfied max. £500 in 36 months CCJ’s: Unsatisfied max. £250...

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

Background Portfolio Requirements

– No maximum LTV for the overall portfolio or properties
– Minimum landlord experience of 12 months.

Portfolio Landlord Criteria

– Maximum portfolio lending held with CHL group £2.5m for the first 12 months then £5m.
– No limit on the size of existing portfolio with other lenders

-Background Portfolio should stress at a minimum of 125% on the higher of current mortgage payments or 5%

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
– Cashflow Statement – All cases
* Lender will accept client versions so long as covers the lenders minimum requirements
£2,000,000 up to 70% LTV
£1,000,000 up to 75% LTV
£500,000 up to 80% LTV
Aggregate exposure limits of £1m to £5m up to 75% LTV
30 years
Minimum unexpired lease of 75 years at application
Housing Association/ Local Authority – By referral
Parent/grandparent/grandchildren/siblings/children/spouses/civil partners/uncles and aunts – including step/half/in-laws
Parent/grandparent/grandchildren/siblings/children/spouses/civil partners/uncles and aunts – including step/half/in-laws Inter-company loan deposits from connected parties accepted
6 months providing there is reasonable uplift in the property which can be explained by development works.
All applicants must have permanent rights to remain in the UK
Yes - Max LTV 75% Houses and 70% Flats/maisonettes
Minimum value £100,000.

EX- Local Authority House max LTV 75% EX-Local Authority Flat/Maisonette LTV 70%
Basic rate tax payer and Ltd Co from 125%

Higher rate tax payer from 145%.

All 5 year fixes at pay rate
Considered so long as evident not a Consumer Buy to Let and suitable due diligence undertaken
3 years voter roll history CHL will not accept any unsecured credit that has been more than a status 2 in the last 24 months and will only accept one instance of status 1 in the last 12 months, but this cannot have been in the last six months.
Payable to the lender at the lender's fee scales - see CHL website/product guide
Primary applicant 21 Secondary applicant 18
Mainland England, Isle of Wight and Wales only
4
CHL are available via selected packagers, of which 3mc are one.

Full Details

View Lender Page

United Trust Bank

Property Value

Houses Minimum value £100,000 with maximum value £5M
Flats Minimum value £125,000.

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

£50,000
Income

There is no minimum income requirement. However, the primary applicant must be able to evidence income via a latest - payslip, SA302, signed accounts, pension statement.

Alternatively an employment reference or accountants certificate can be obtained.

Spousal maintenance accepted if by court order.

There is no minimum income requirement. However, the primary applicant must be able to evidence income via a latest - payslip, SA302, signed accounts, pension statement. Alternatively an employment reference...
Maximum Age

At least one applicant must be under 85 years old at the end of the term.

At least one applicant must be under 85 years old at the end of the term.

Type/Commercial

Any applicant, either individually or in a Ltd. Company (SPV), owning other BTL properties.

Ltd Co's that have been formed for holding residential Buy to Let properties as assets. Trading companies are not permitted
DIRECTORS OR SHAREHOLDERS
Up to a maximum of 4 individuals. The application must include all directors and sufficient shareholders who own a combined total of at least 80% of the company.
PERSONAL GUARANTEES
All directors and shareholders are required to provide joint and several guarantees and take Independent Legal Advice.
CONNECTED APPLICANT
Where the property is registered in the name of one of the applicants, at least one of the owners must be a shareholder of the Ltd Co application.

ACCEPTABLE SIC CODES
68100, 68209, 68320, 68201.

High Rise Flats
Over Commercial premises
HMO's
Multi-Unit Freehold Blocks
Holiday lets

Consumer BTL: -
Do not allow Consumer BTL. If the client is already a landlord with other rental property this is acceptable.
Considered if the subject property is the client’s only BTL

FLATS
Various types of flats up to 30 floors (Where the security is on the 4th floor or above the block needs to have a lift).
Studios at least 30 Sq.M in size.
LEASE TERM - Minimum term 60 years left on the lease on completion.

EXPOSURE LIMITS - Maximum of 25% exposure of a block of flats.

MUB
APPLICANTS At least 1 applicant must have 1 years letting experience.
MINIMUM VALUATION £150,000.
NUMBER OF UNITS Six self contained units with their own utilities on specialist and ten on non standard products

HMO
APPLICANTS At least 1 applicant must have 1 years letting experience.
MINIMUM VALUATION £150,000.
NUMBER OF LETTABLE ROOMS Six on specialist and ten on non standard products.
LICENCE REQUIREMENTS Licence would be needed if required by the local authority. This will be confirmed by the solicitor.

NEW BUILD
DEFINITION Will only lend on new properties which are built and ready for occupation.
WARRANTY A new build warranty should be in place confirmed by the solicitor

Any applicant, either individually or in a Ltd. Company (SPV), owning other BTL properties. Ltd Co's that have been formed for holding residential Buy to Let properties as assets. Trading companies are not permitted DIRECTORS OR SHAREHOLDERS Up to a maximum of 4 individuals. The application must include all directors...
Historic CCJ's & Defaults

ALLOWABLE ADVERSE CREDIT

UTB Status 0 criteria: Active unsecured credit – All accounts currently up to date (mail order and communications ignored).

CCJs and Defaults – None in the last 2 years with a maximum of 5 totalling £5,000 whether satisfied or not (less than £300, mail order and communications ignored).

ALLOWABLE ADVERSE CREDIT UTB Status 0 criteria: Active unsecured credit – All accounts currently up to date (mail order and communications ignored). CCJs and Defaults – None in the last 2 years with a maximum of 5 totalling £5,000 whether satisfied or not (less than £300, mail order and communications...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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, 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

– Total borrowing of up to £5M per individual with a 20 loans maximum.

– The portfolio ICR must be at least 125% at a mortgage rate of 5%. UTB may request further assurance over the mortgage serviceability for portfolios that are highly geared.

Portfolio Landlord Criteria

– 20 loans maximum, £5,000,000 exposure with the Bank.

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
£500,000 up to 80% LTV Standard and Specialist
£1,000,000 up to 75% LTV - Non standard also.

Total borrowing of up to £5M per individual with a 20 loans maximum.
5 years
25 years
Minimum term 60 years left on the lease on completion.
Refer
Gifted deposits are considered from close/blood relatives: Parents, Child, Grandparents, Brother, Sister, Step Parent, Spouse. OVERSEAS DEPOSITS These can be considered by referral (FATF and EEA only) . CONCESSIONARY PURCHASE Considered if purchasing from a close relative (as above).
Gifted deposits considered from close/blood relatives: Parents, Child, Grandparents, Brother, Sister, Step Parent, Spouse. OVERSEAS DEPOSITS These can be considered by referral (FATF and EEA only) . CONCESSIONARY PURCHASE Considered if purchasing from a close relative (as above).
Property must have been owned for at least 3 months and must be registered in the borrower's name at Land Registry
Consumer BTL: - Do not allow Consumer BTL. If the client is already a landlord with other rental property this is acceptable. Considered if the subject property is the client’s only BTL If regulated, please refer.
Yes, required.
Yes.

Purchases allowed off-plan, subject to re-inspection before completion.
Max 5% new build incentives, including builders deposit.
Evidence of an appropriate new build warranty, or certificate.
Yes, accepted.
Confirmed by the valuer or current rent if lower.

Only exception is holiday lets where the rental income will be based on proven annual income or confirmed by a reputable letting agency averaging low/medium/high season for the year.

See below for rental calculations: –

For 2 year fixed rates the initial pay rate +2 or 5.5%

For 5 year fixed rates the initial pay rate.

125% Basic Income Tax Rate

140% Higher Income Tax Rate 140%

130% Combined Basic and Higher Income Tax Rate

125% Ltd Companies
No
No, but do credit check
Mortgages/Secured Loans – No missed payments in the last 12 months & nil outstanding.
Valuation fees paid directly to the lender at the lenders valuation fee scale.
21 years for all applicants
Will lend in England, Scotland (mainland) and Wales.
4
Access to United Trust Bank is via mortgage packagers currently, one of which is 3mc.
Soft

Full Details

View Lender Page

LendInvest Mortgages

Property Value

£75,000 (£150,000 - London) Standard - £150,000 (£250,000 - Greater London) HMOs & Multi Units £150,000 elsewhere.

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

£50,000 including HMO
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 to 70% LTV
HMO Flats across the UK - HMO product can be considered for first time landlords, and offer rental yield based valuations on small HMOs in Article 4 areas.
Flats
Maisonettes
Apartments including new builds

HMOs (up to 15 rooms) and Multi Unit Freehold
HMOs with kitchenettes will be limited to 70% LTV
HMOs and MUFBs available for tier 2 borrowers and HMO and MUFB hybrids
-Commercial valuations on small HMO’s in article 4
-Commercial valuations on Large HMO's between 7-15 beds
-Multiple kitchens permitted at 75% LTV
-Student lets for small HMOs (up to 6 beds)
-MUFB/HMO combination acceptable

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)
SPV, property trading companies and layered companies

Holiday Lets: -

ICR based on single AST rental income

Valued as a single dwelling house

There can be no title restrictions

Min income of £30k

Must meet our acceptable property type criteria

The customer must own 2 other BTLs (with one having been held for more than 12 months)

Must meet Tier 1 criteria

No HMOs/MUFBs can be considered

Max 5 bedroom house

Houses New builds (with full certificates in place) Flats to 70% LTV HMO Flats across the UK - HMO product can be considered for first time landlords, and offer rental yield based valuations on small HMOs in Article 4 areas. Flats Maisonettes Apartments including new builds HMOs (up to 15...
Historic CCJ's & Defaults

Adverse credit - Available to all applicants/properties:
-Unsecured arrears - max status 2 (can have multiple status 1&2) & communications disregarded.
-CCJ’s - disregarded over 3 years ago

Adverse credit - (Tier 2) - Available for standard properties, HMO's & MUFBs
-Unsecured arrears - not counted
-CCJ's - None in last 12 months, 1 in last 12-24 months and not counted over 24 months
-Defaults - None in last 12 months, 2 in last 12-24 months and not counted over 24 months

Adverse credit - Available to all applicants/properties: -Unsecured arrears - max status 2 (can have multiple status 1&2) & communications disregarded. -CCJ’s - disregarded over 3 years ago Adverse credit - (Tier 2) - Available for standard properties, HMO's & MUFBs -Unsecured arrears - not counted -CCJ's - None in...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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 5.5%

-Between 125% and 100% if under 65% LTV, then If the total portfolio LTV < 65%, the case can proceed without the need for
any additional affordability checks. Additional checks required if higher.

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 : -

£500,000 up to 80% LTV - standard properties and Small HMO's

£1,000,000 up to 75% LTV

HMO - Small HMO's - £1,000,000 - Large HMO's £1,500,000 up to 75% LTV - available for First time landlords

HMOs up to 15 units - For Large HMO’s/MUFB cases, a minimum of 12 months experience managing a similar size property. No first time HMO operators.
Multi-Unit Freehold Block (MUFB) up to 10 units (max 75% LTV)

MUFB up to 10 units - 75% LTV

£3 million - 75% LTV

Small HMOs, and up to £1 million for Large HMOs and MUFBs.

Up to £5mill with a maximum of 25 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 1 Product pricing)
Accepted - Flats to 70% LTV max
Accepted

New builds are defined as a property that has never been occupied or has been constructed or converted within the last 12 months.-
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%

@ 5.5% 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

Hampshire Trust Bank

Property Value

HTB do not have a specific minimum value, however, the loan has to be £100,000.

100000-150000, 150001-10000000
Advance (min)

£100,000
Income

No minimum income
First time buyer, first time landlord - minimum income has to be £65,000 per application.

No minimum income First time buyer, first time landlord - minimum income has to be £65,000 per application.
Maximum Age

Type/Commercial

Residential and Semi Commercial

The value of the residential element can be up to 50% of the total valuation and should have its own separate access - This should be the value of the commercial element.

• Large and small portfolios
• Holiday lets
• HMOs
• Development exits
• Sitting tenants
• New build flats

Purpose Built Student Accommodation - Or PBSA for short.

Weather it’s a newly built development or a well-established asset, we are now in the market for PBSA. Refer these to me directly to vet, and ill liaise with head of underwriting to obtain a decision.

A general list of questions such as:

• Location
• University Ranking
• Property Quality
• Lease terms – If the property is leased then the key terms need to be understood including how any break clauses work.
• Occupancy Levels – What are the historic occupancy levels
• Competition – What does the PBSA pipeline for the University / City imply for future occupancy levels / rental expectations?
• Overseas Students – What proportion at University / property?

HTB also consider Vulnerable Tenants:

The following types of properties and tenancies providing the property is let on a corporate agreement to a local authority, Housing Association, or strong corporate / charity and, where applicable, an experienced and reputable CQA-registered care provider is in place:

• Housing Association, or strong corporate / charity
• Properties where 24 hour or live-in care is provided
• Properties providing emergency housing accommodation.
• Properties where housing is provided for rehabilitation or social transitional purposes

For clarity direct lets to vulnerable tenants are outside of appetite. Care Homes are also outside of appetite.

Note that where the residential aspect is less than 50%, we may need to reprice the application, which could impact serviceability.

HTB accept cases where properties are let to a third party for emergency housing, rehabilitation or social transitional purposes, provided there is a credible professional operator providing appropriate management.

The threshold above which a mortgage debenture is required is £2m.

Residential and Semi Commercial The value of the residential element can be up to 50% of the total valuation and should have its own separate access - This should be the value of the commercial element. • Large and small portfolios • Holiday lets • HMOs • Development exits •...
Historic CCJ's & Defaults

Assessed on a case by case basis

Assessed on a case by case basis

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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_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:100000-150000, 150001-10000000
Income (min): no-min-income, above-25000
Portfolio Landlords Accepted

Background Portfolio Requirements (Example)

– No maximum LTV for the overall portfolio

Portfolio Landlord Criteria (Example)
– 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 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
£25,000,0000.
2 years
30 years
50 years at the end of the mortgage
Can consider Serco Mears and Clearsprings
Accepted
Accepted
None
Not considered
Not required
Yes, considered
Yes, flats and houses
Limited company: BTL 125% HMO over 6 bedrooms – 140%

Personal name: BTL 140% HMO over 6 bedrooms – 155%

5 year fixed – stressed at pay rate

2 year fixed – stressed at pay rate + 2%

Note: £4£ remortgages: – (As of 19/08/2024)
- Consistent ICR Calculations: Uniform ICR (Interest Coverage Ratio) calculations for both 2-year and 5-year fixed terms, offering more leverage.
- Inclusion of Fees: We also allow fees to be added to the loan, ensuring the existing term lender is fully redeemed without additional upfront costs
Yes – however only accounts for a small part of the overall decision
Paid direct to lender at the lender valuation fee scales
10 maximum
Hard credit search

Full Details

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Zephyr Homeloans

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% (up to £750,000)

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% (up to £750,000) 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 24 months.

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

Defaults: - No defaults must have been registered within the last 24 months

Payday loans - None in last 6 years

Credit Cards: - No more than 1 month in arrears in last 24 months and no arrears in the last 6 months

Unsecured Loan Arrears & Credit Cards: No late or missed payments in last 24 months. CCJ's: - Maximum 1 up to £250 in the last 3 years and satisfied. None in last 12 months. Defaults: - No defaults must have been registered within the last 24 months Payday loans -...

Intermediary Status: da_intermediary, hlp_intermediary, pms_intermediary, sesame_intermediary, stonebridge_intermediary, trm_intermediary, tenet_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 (over £5m assessed on a case-by-case basis)
– 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 – £1,500,000 @ 70% LTV.
£1,000,000 @ 75% LTV
(£2,000,000 in total)

SPECIALIST
HMOs & MUFBs:
Max Loan Amount - £750,000 @ 80% LTV.
Max Loan Amount - £1,000,000 @ 75% LTV.
(£2,000,000 in total)

Specialist New Build & Flats Above Commercial products available up to 75% LTV, with Max Loan size of £750,000

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
Yes - as long as the AST agreement is between the individual & not the local authority.
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.
New build and flats above commercial premises:
Max Loan size of £750,000 – including New Build properties within the M25 only
Max Loan size for New Build properties outside the M25 is £500,000
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
Standard properties – Individuals: High rate taxpayers -140% based on higher of Payrate + 2 or 5.5%, or just Payrate for the 5 year fix.

Basic rate taxpayers- 125% higher of Payrate + 2 or 5.5%, or just Payrate for the 5 year fix.

Limited Company: –
125% higher of Payrate + 2 or 5.5%, or just Payrate for the 5 year fix.

All MUFBs, HMOs and Flats above Commercial: – Individuals 150% higher of Payrate + 2 or 5.5%, or just Payrate for the 5 year fix.

Limited Companies
135% higher of Payrate + 2 or 5.5%, or just Payrate for the 5 year fix.
Yes - only when the applicant/director already has rental properties in the background prior to approaching Zephyr.
No, but if score is low then overall case is reviewed at application stage.
No missed payments per mortgage account in the last 12 months and no more than 1 missed payment in the last 24 months
Valuations fees are paid Via DPR - 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

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Saffron Building Society

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

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Cambridge & Counties Bank

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

Holiday Lets: up to 70% LTV
Minimum income is not required, however, must be able to prove resilience to loan payments.
Personal guarantees are required from Directors for Ltd company deals, but on a case by case basis, may consider exceptions.

Affordability of application will be assessed in one of 2 ways: -

1. Where more than 1-year holiday rental income can be evidenced by accounts, the gross annual rental income should be equal to or exceed the Debt Service Cover Ratio (DSCR) at 130% after deducting the operating costs of the holiday let. There will be a secondary calculation to ascertain that market rental income can also cover a minimum of 100% of the DSCR to provide a satisfactory exit route

2. Where there are no accounts available, using the DSCR that can be achieved on a monthly Assured Shorthold Tenancy (AST) for the property, calculated at 130% DSCR (less 10%
operating costs)

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

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