From Friday 17th November, our new residential products are live. We've made improvements to products and criteria to help you help more of your clients.

We continue to support customers who are struggling or think they may struggle with their mortgage payments. If you need our assistance, please call our Customer Support team on 0344 257 0427, Monday to Friday, between 9am and 5.30pm. If your client can keep up with their mortgage payments, we would encourage them to do so, as changing their contract could lead to higher payments down the line.

Intermediaries

Customers

BTL Checklist Items Guide

Buy to Let Criteria

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Affordability

Interest coverage rate (ICR) test will apply on all cases on an interest only basis. The interest rate used to calculate the ICR test will be:

5 or more years fixed rate products: the initial rate.
Tracker and 2 year fixed rates products: A nominal rate (currently 5.5%) or the initial rate + 2%, whichever is higher.

ICR

Interest Coverage Rates Table
* Where all applicants are declared as basic rate tax status during application, proof of basic rate tax status will be required. Where the ICR meets 140%, we will assess the cases as such and will not require proof of tax status

Acceptable proof is tax code status letter/payslip/p60/tax calculation plus tax year overview. Other items may be acceptable on a case by case basis.

Get in touch with us

Got a question about an application?
Or want to double check some details?
Give us a call and we’ll get to the bottom of it.

Not an intermediary?

Our products are only available through qualified mortgage advisers. Check out our customer site to see how we can help.

Customers