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Regulated Buy to Let

23/08/2017

Rental Cover & Affordability Gross rental income must cover the mortgage payment (calculated at the Society’s BTL stressed rate on an interest only basis) by a minimum of 145%, calculated after assuming no void periods after taking into account any other borrowings. Evidence of actual or anticipated rental income is obtained by reference to a...

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Right to Buy

15/08/2017

Permitted on selected products only The maximum loan considered is 100% of contractual purchase price up to a maximum of 65% LTV Rent paid by housing benefit within the last 12 months is not acceptable

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Remortgage

15/08/2017

Permitted on properties which have not been subject to sale or remortgage in the preceding six months with the following exceptions: Inherited properties Self-build properties Properties to be renovated Loan purposes considered: £ for £ remortgage Capital raising for home Improvements Capital raising for debt consolidation up to 75% LTV** ** Where a loan is...

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