We have increased our Single AST (or Short Assured Tenancy/Private Residential Tenancy in Scotland) required from 12 months to a maximum of 36 months with an annual break clause in place. Please note, it is for single households only and multiple tenancies are not accepted.
Specialist Buy to Let highlights
- 5 year fixed stress test of 4% at 140% of the mortgage interest amount calculated;
- Maximum age of 85 (mortgage term based on the oldest applicant);
- Up to 4 applicants on the mortgage can be considered;
- No minimum income (subject to rental void plausibility checks);
- Top slicing considered from earned income (minimum income requirements apply);
- Portfolio landlords accepted – maximum of 5 properties with Metro Bank (under £5m aggregated debt), maximum of 10 properties in total;
- New Affordability Calculator for both purchase and re-mortgage applications including top slicing.
For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Got a case to discuss
Our BDM Team are here and available to help with new case queries. Please get in touch with your BDM or call our Broker helpdesk on 020 3427 1019.
