The Buy to Let market has undergone a transformation over the last 12 months and is becoming a more complex sector for brokers to operate in. The tax changes and PRA regulations affecting the Buy to Let sector are perhaps driving this.  We have made some recent changes to our proposition which we hope is of interest.

In summary…

  • Mortgages available up to 75% LTV
  • Flat fee, percentage fee and no booking fee options
  • Available to first time landlords (but not FTBs)
  • Mortgage offers valid for 6 months or product expiry
  • Free standard valuation up to a property value of £2.5m
  • £250 cashback when your client remortgages to us. ERC applies

 

Affordability

Our minimum rental cover at the Buy to Let affordability rate on an interest only basis:

Application type up to

75% LTV

Minimum rental coverAffordability rate
Purchase145%5.50%
Remortgage with capital raising (including debt consolidation)
Remortgage without capital raising (transitional)125%5.00%

 

NEW Buy to Let remortgage without capital raising

Eligibility criteria under transitional arrangements:

  • New BTL remortgage application must not be capital raising (adding product fees is allowed, adding ERCs is not allowed)
  • BTL property must have been purchased before 1 January 2017
  • No additional BTL lending has been taken on or after 1 January 2017

 

Why not see how much your client could borrow using our Buy to Let calculator?

Please call your dedicated contact if you want to know more about the above.

 

Santander for Intermediaries

Aimed at intermediaries and investment professionals only: not for public distribution