Underwriting Criteria

The Borrower

We focus on lending to experienced landlords.

They must have no adverse credit history in the last six years.

No First Time Buyers; all borrowers must already own a residential property. We will sometimes lend to first time landlords, subject to rental coverage meeting 135% of loan repayments and strong local area knowledge.

The Property

Properties must be in England or Wales, in areas with consistently strong rental demand.

A new RICS (Chartered Surveyor's) valuation is instructed with every application.

Loan to Value

We fund buy‐to‐let mortgages from £70,000-£500,000 provided this represents less than 80% of a property's value.

Affordability

Affordability is key to deciding who we lend to. It helps us manage risk.

Applicants must demonstrate that they are able to service the mortgage repayments without relying on rental income. We require a minimum personal income of £30,000pa.

We also require rental income to meet 125% of the monthly loan repayment, or 135% for first time landlords.