New Business Premier Buy to
Let criteria
To help make our New Business Premier Buy to
Let criteria quicker for you to reference and easier
to understand we have put all of the key
points in one place. This has been split up into
handy sections which can be viewed using the quick links below.
Product details >
Loan details >
Applicant
details >
Fee details >
Alternatively, to view our New Business Premier Buy to Let
products click on the links below.
View our New
Business Premier Buy to Let products >
View
our New Business Premier Let to Buy products
>
Product details
All products are portable
Administration fee is non-refundable
Arrangement fee may be added to the loan
Reversionary rate:
Up to 65% LTV - 5.00% (BBR* +
4.50%)
*If BBR falls below 0.50% the initial/reversionary rate will be
charged at 0.50% + product initial/reversionary rate loading
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Loan details
Rental income for the Buy to Let property must be a
minimum of 145% of the monthly repayment. The monthly
repayment is based on the BTL stressed interest rate
Not available in Northern Ireland
Not available to first time buyers
maximum portfolio exposure 3 Buy to Let properties totalling
£1.5m. If the customer also has their main
residential
mortgage with the Co-operative Bank,
Britannia or Platform, total exposure including this residential
loan must not exceed £2m.
Maximum 10 total properties owned with all lenders
Remortgage only available on a £ for £ basis.(Where mortgage
cannot be found on the credit search a recent mortgage statement
will be required)
| Loan
Purpose |
Maximum LTV |
Minimum loan
amount |
Maximum
loan amount
|
Minimum term |
Maximum term |
| Purchase |
65% |
£350,001 |
£500,000
|
5 years |
40 years** |
|
Remortgage £ for £ |
65% |
£350,001 |
£500,000
|
5 years |
40 years** |
**Maximum Age at expiry of mortgage term is 75.
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Applicant details
One applicant must be an owner occupier, where second
applicant is not they must be married/cohabiting at the same
address
Minimum income £60,000 single or joint (Proof required)
Minimum age is 25 for BTL products.
Maximum age is 75 at the end of the term.
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Fee
details
| Introducer fee |
0.48%
(max £2,400)
|
|
Property valuation |
Valuation fee |
Additional home buyer fee |
Additional Fee For Building Survey |
| Up to
£100,000 |
£118 |
£140 |
£376 |
| £100,001 to
£150,000 |
£135 |
£175 |
£402
|
| £150,001 to
£200,000 |
£149 |
£213 |
£432 |
| £200,001 to
£250,000 |
£179 |
£220 |
£438 |
| £250,001 to
£300,000 |
£204 |
£231 |
£450 |
| £300,001 to
£400,000 |
£264 |
£270 |
£466 |
| £400,001 to
£500,000 |
£310 |
£314 |
£505 |
| £500,001 to
£600,000 |
£354 |
£370 |
£575 |
| £600,001 to
£700,000 |
£413 |
£401 |
£595 |
| £700,001 to
£800,000 |
£464
|
£440 |
£625 |
| £800,001 to
£900,000 |
£515 |
£484 |
£634 |
| £900,001 to
£1,000,000 |
£549 |
£535 |
£690 |
| £1,000,001 to
£1,250,000 |
£695 |
£550 |
£844 |
| £1,250,001 to
£1,500,000 |
£834
|
£536 |
£1,005 |
| £1,500,001 to
£1,750,000 |
£935 |
£709 |
£1,204 |
| £1,750,001 to
£2,000,000 |
£1,030 |
£799 |
£1.409 |
| £2,000,001 to
£2,250,000 |
£1,210 |
£810 |
£1,529 |
| £2,250,001 to
£2,500,000 |
£1,390 |
£829 |
£1,649 |
| £2,500,001 to
£2,750,000 |
£1,570 |
£850 |
£1,769 |
| £2,750,001 to £3,000,000 |
£1,751 |
£869 |
£1,888 |
| Over
£3,000,000 |
By
negotiation |
By
negotiation |
By negotiation |
|
Telegraphic transfer fee
|
£0 |
| Higher lending
charge |
None |
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