We’re repricing many of our buy to let products, including holiday let and expat buy to lets and extending product terms on others.
We want to particularly highlight our new 5-year fixed rate buy to let product, with affordability calculation at 145% x payrate.
New products
Buy to Let – 80%
5 Year Fixed at 5.69%
2 Year Fixed at 6.04%
Holiday Let – 80%
5 Year Fixed at 5.99%
2 Year Discount at 6.09%
2 Year Fixed at 6.29%
Expat Holiday Let – 80%
5 Year Fixed at 6.29%
2 Year Discount at 6.29%
2 Year Fixed at 6.49%
Expat Buy to Let – 80%
2 Year Fixed at 6.29%
- Available for purchase and remortgage.
- Capital and repayment basis only.
- BTL affordability is based on the expected rental income. Minimum 145% rental cover against the monthly mortgage payment at either the Product Rate +2% (a minimum rate of 5.5% applies) OR where a 5-year Fixed Rate , the calculation is 145% x pay rate.
- Minimum loan size of £75k, a maximum loan size of £1m (Expat Holiday Let is £750k max)
- Application fee of £199 and a completion fee of £999 (expat products £1,499 completion fee).
- Expat products are available to British nationals working in an employed role (or retired) abroad and are paid in Sterling or accepted foreign currencies. For BTL and Holiday Let most currencies are accepted. Where lending is affordability based (residential) the following currencies plus Sterling are accepted. Euro, US Dollar, Canadian Dollar, Singapore Dollar, Hong Kong Dollar, Swiss Franc, Norwegian Krone, UAE Dirham, Kuwaiti Dinar or Qatari Riya l.
- Holiday let is for customers letting on short term basis (no longer than 40 days at a time). Personal use for up to 60 days a year.
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