Our lending criteria

The Applicant

Who do we lend to?

Individuals
Special Purpose Vehicles (SPVs)
Trading companies
Limited Liability Partnerships (LLPs)
Expats
First-time landlords
First-time HMOs - must be a landlord with at least 12 months experience
First-time buyers with a minimum employed income of £85,000

Please note, we only lend on properties which are intended for rent. We will not agree an advance where the owners (or their relatives) plan to occupy the property.

All applicants must have/ be:

Minimum age of 21
Maximum age of 85, at end of term
A UK credit footprint
No adverse credit history
Minimum income of £25,000 per annum

First-time landlords

Maximum LTV of 75%
Must be owner occupiers of current main residence

HMOs & MUFBs

Minimum property value of £120,000
Maximum LTV of 75%
Applicants must have a minimum of 12 months prior experience as a landlord
HMOs - max. 15 bedrooms*
MUFBs - max. 10 units*

*HMO minimum room dimensions to be determined by statute and local authority requirements. MUFBs must be a min. of 25sqm per unit.

All expats must have/ be:

Maximum LTV of 70%
Residents of the European Union can apply as individuals or a Limited company
Residents outside of the European Union must apply in a Limited Company and reside in a FATF country
A clean UK credit footprint
Active UK bank account
Existing UK buy-to-let property
Employed with a minimum income of £40,000 or self-employed with a minimum income of £60,000

The Property

We lend against:

Standard properties
Houses of Multiple Occupancy (HMO)
Multi-Unit Freehold Blocks (MUFB)
Properties adjacent or above commercial premises*

*We will consider applications adjacent or above commercial premises, provided that the use for the commercial properties are in line with the local market and that they do not affect the property's security or long-term rental opportunities. This is restricted to max. LTV of 70%.

Properties must have/ be:

In England and Wales**
Rental income that meets a certain percentage of monthly mortgage repayments. To find out the percentage value that applies to your case, click here
A minimum property value of £80,000 for standard properties or £120,000 for HMOs and MUFBs
Be in an area with strong rental demand, as determined by our surveyor partners
Be suitable for letting at completion

**Must not be holiday lets, Airbnb lets, consumer buy-to-lets, shared ownerships, Help to Buy, Right to Buy or residential properties.

The Financials

How much do we lend?

£50,000 £1.5m

Minimum Maximum

ICR rules:

2-year Fixed rate, 3-year Fixed and Tracker rate products stressed at 5.50%

Product Type	Standard	HMO/MUFB	Expatriate	First Time Landlord	Above/Adjacent Commercial
Individual	140%	140%	140%	140%	140%
Limited Company	125%	125%	125%	125%	125%
Limited Liability Partnership	125%	125%	125%	125%	125%

Standard

Individual 140%

Limited Company 125%