Available across our core and niche Buy to Let ranges, our top slicing facility can be applied to more than your average buy to let cases.
We’ve used top slicing to approve mortgages on joint borrower sole proprietor applications, non-owner occupier and complex income cases. We can even top slice using minimum income only.
Take a look at our range of Buy to Let Top Slicing mortgages on our website or, if you have a complex buy to let case you would like to discuss, contact your dedicated intermediary team by calling 01455 894084.
Read below about a case we recently approved using our top slicing facility, involving joint borrower sole proprietor applicants:
Approved case – Top Slicing Joint Borrower Sole Proprietor
The application:
- The applicant – a non-owner occupier – requested £400,000 to remortgage a property she had recently inherited from her grandmother
- She was capital raising to buy out the share from the joint owner of the property – her sister – and to carry out some home improvements
- The applicant wanted her husband to join the mortgage on a joint borrower sole proprietor basis
- She planned to rent out the property and purchase a new home with her husband
- Top slicing would be needed for affordability purposes
Our solution:
The anticipated rental income of the newly inherited property didn’t support the mortgage amount requested. However, by taking surplus income from both applicants’ salaries to top slice the mortgage, we were happy to make an offer of the full amount at 75% LTV over 20 years.
