We are happy to let you know that we have launched several BTL Enhancements to our current proposition, to improve our offering to Brokers and clients.
These are:
- Island Location Review – we can now consider properties in Isle of Wight and Anglesey
- Portfolio Cap Remove – there is no longer a cap of 10 properties. The maximum portfolio value is £5m – this will be assessed in a case by case basis
- Remortgage / refinance within 6 Months of initial purchase – this is now acceptable (subject to meeting other case criteria)
- Maximum Loan Increase – max loan size increased from £2m to £3m up to 70% LTV
- HMO Leasehold Flats – we will now accept HMOs to be permitted over leasehold flats.
- Builder Let Retention – we will now allow a developer to apply for a BTL loan on a number of properties they have developed. This can range from a small number of properties unsold or as a core part of their development strategy. For a builder let retention the applicant may be a first time landlord where we are asked to fund on a standard BTL basis even if they have not owned a property in the last 12 months. Any applications can be considered on a case by case basis
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