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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

 

Bullet pointAll products are portable

Bullet pointAdministration fee is non-refundable

Bullet pointArrangement fee may be added to the loan

Bullet pointReversionary 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

 

Bullet pointRental 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  Bullet point

Not available in Northern Ireland

Bullet pointNot available to first time buyers

Bullet pointmaximum 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.Bullet point

Maximum 10 total properties owned with all lenders

Bullet point

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

 

Bullet pointOne applicant must be an owner occupier, where second applicant is not they must be married/cohabiting at the same address

Bullet point

Minimum income £60,000 single or joint (Proof required)

Bullet pointMinimum age is 25 for BTL products.

Bullet pointMaximum 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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Link to calculators page

Link to our lending policy page

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