Announcement
Limited Edition! Check out these changes to our products
We’re starting 2024 off with some exciting news!
In a higher interest rate environment with evolving customer needs and changing market dynamics, it has become more difficult for landlords to achieve their required loan value to refinance or grow their portfolios. We’re therefore excited to announce a package of changes that offer professional property investors more choice and access to larger loan sizes to support their plans for growth in 2024.
1. New Limited Edition Buy-to-Let Products
- New 2-Year Fixed Rate Limited Edition products from 5.59% with a maximum LTV of 70%.
- New 5-Year Fixed Rate Limited Edition products from 6.09% with a maximum LTV of 75%.
- The arrangement fee for all our Limited Edition products is 5% and can be added to the loan.
- Available for loans £150k and over.
2. Small HMO Lending for First Time Landlords
- We’re removing experience requirements for first-time landlords looking to purchase a small HMO. As a response to higher interest rates, we expect some new entrants to the market will seek higher yielding investments when starting their property journey.
3. Top-Slicing is now available across our product range
- We’re reintroducing Top-Slicing across our Digital BTL, Complex BTL and Commercial Investment product ranges.
- We can consider a larger loan amount for customers with surplus outside income for properties where the rents do not meet DSCR requirements on their own, the rental income will need to meet a minimum of 110% DSCR with outside income used to support affordability at the standard product rules.
- Get in touch with your National Relationship Manager for support with calculating and quoting a deal using Top-Slicing.
Please download our product guide and lending criteria to ensure you’re up-to-date with our new pricing and criteria.