A higher BTL maximum loan – great news for you and your clients
Great news – we’ve increased our Buy‑to‑Let (BTL) maximum loan, giving you more options to place cases and helping your clients purchase or improve homes in higher‑value areas.
What’s changed?
We’ve increased our maximum loan amounts for Buy to Let as follows:
• Up to 75% LTV: Maximum loan increased to £1.5 million (previously £1 million).
• Between 75.01% and 80% LTV: Maximum loan increased to £750,000 (previously £500,000).
Important to note: First Time Landlords are capped at a maximum loan of £1 million for loans up to 75% LTV.
This is due to our overall BTL exposure limits:
• £1 million for First Time Landlords
• £3 million for Experienced Landlords
What else do you need to know?
• You don’t need to do anything differently – use the rental affordability calculator, submit the DIP and MSO will do the rest.
• This change is applicable to all new and pipeline cases.
• All other lending policy and criteria remains the same
When is this change?
Your clients can benefit from this change immediately.
We’re increasing rates in our Residential New Business product range
On Monday 20 April, we’re increasing rates in our Residential New Business product range. The current range will be withdrawn at 10pm, Sunday 19 April, and the new range will be available at 8am, Monday 20 April.
What’s changing?
All fixed rates at 75%, 80% and 85% LTV will be increased by 0.10%.
(please note, new products will only be available to view on the live date)
What else do you need to know?
Please note that a full mortgage application must be submitted by the time of withdrawal to secure a new lending product. If you are yet to submit a DIP, please do so as soon as possible as any referrals will only be looked at during normal office hours.