2.09pc 5-year fixed buy-to-let at 60pc LTV!

Modern Family houses

Take a great rate for a 5-year fixed date, offering cashback into the bargain.

This stunning deal is available on purchase or remortgage for single investment properties – and the lender will consider remortgage applications straight after a purchase, as long as the value of the property has not changed. This may be useful if you are exiting a bridging loan or cash purchase.

The deal is not available to portfolio landlords, expats, Houses of Multiple Occupancy or limited companies.

2.09pc 5-year fixed BTL at 60% LTV!

2.09pc 5-year fixed BTL at 60% LTV!
Product type Initial rate Max. Loan to Value Product fee *ERC's
5-year fixed 2.09% 60% £1,995 For 5-years

*Early Repayment Charge

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Property types – standard and unusual types accepted

Properties must be in England, Wales, Scotland or Northern Ireland.

Benefit from the flexibility this lender offers on a variety of construction types. A wide range of forms of construction will be considered, both standard and non-standard (subject to a valuation report and valuer comment).

There is also a wealth of allowable types of flat with this lender, some of which is summarised below, but for specific feedback on a given property call our advisors to discuss as it may not be covered here.

Flats: Flats across the UK are largely accepted, if they are within blocks of no more than 10 storeys. Where a flat is in a block of more than five storeys the building must have a lift.

New build flats are considered, subject to the required warranty or certification (for details, speak to your advisor).

Private sector flats with external deck or balcony access are accepted.

Student flats are not accepted by this lender.

There are additional stipulations for flats in London:

Flats in Greater London: Ex-local authority, Housing Association or Ministry of Defence flats in blocks of no more than three storeys are accepted by this lender, if a satisfactory valuation report and valuer comments are received to support the case.

Flats in The City of London, Canary Wharf and a number of London Boroughs: Flats in some areas of central London are accepted, regardless of the number of storeys in the block. Call us for details.

Studio flats and Houses in Multiple Occupation (HMOs) are not accepted.

Applicant details

Up to 4 applicants are permitted and the main one must be an owner/occupier.

This product is not available to portfolio landlords, expats, or to limited companies.

Income and affordability will be assessed on the income of the two highest earners.

The lender will consider applications from anyone falling into the following categories:

  • Employed
  • Retired
  • Self-Employed
  • Contractors

Age:

The minimum age of the main application is 21 years-old. All other applicants must be at least 18 years-old.

The maximum age on applications is 68 years-old and the maximum age at the end of the mortgage term is 75 years and 364 days.

Income details

The minimum combined gross income for applicants is £25,000.

Proof of income:

Employed applicants:

The last two months of payslips and your last P60, or alternatively your four most recent weekly payslips and last P60.

Retired applicants:

Your latest annual pension statement (dated within the past 12 months), or your most recent two monthly pension slips, or your latest two monthly bank statements, evidencing pension credits. Alternatively you can supply your latest P60 or SA302.

Self-employed applicants:

Two years of accounts records or an accountant’s certificate, or your last two SA302s with Tax Year Overviews.

Contractors:

Depending on the type of contract, the lender will want to see your contract and six months of bank statements, and possibly two years of accounts, an accountant’s certificate or the past two years of SA302 forms.

Loan details and term

The minimum property value is £50,000.

The maximum loan is £1 million.

The minimum loan term is 7 years and the maximum is 25 years.

Enquire online

This information should not be interpreted as financial advice. Mortgage and loan rates are subject to change.

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