Are your BTL clients looking for larger loans?
We wanted you to be the first to know about our Buy to Let (BTL) larger loan mortgages, launching today, 24 November 2021.
In addition, our maximum loan sizes have changed, as well as our Loan to Income (LTI) multiple for our standard products.
Read on to find out how your clients can benefit from our updates.
Larger loans for your experienced landlord clients
Designed to help your clients who are looking to purchase or remortgage, our BTL larger loan mortgages are available from today and enable landlords to borrow up to £1 million to a maximum Loan to Value (LTV) of 60%.
- 2-year discount at 1.39% with £1,499 fees
- 2-year fixed at 1.75% with £1,499 fees
- 5-year fixed at 2.05% with £1,499 fees
Restricted criteria apply on these products:
- Not available to first time landlords
- BTL non-owners not accepted
- Properties must be self supporting (no top slicing)
- Minimum income must be £40,000
Increased maximum loan sizes on core products and an enhanced LTI multiple
We’re pleased to say your clients can now benefit from higher maximum loan sizes on our core mortgages – enabling them to borrow up to £1 million with our residential range.
The Society has also removed tapering of loan amounts up to 75% LTV for BTL customers, and we now offer, as standard, a maximum loan of £500,000 to 75% LTV.
Across both ranges, we have enhanced our maximum LTI to x4.49.