Affordability
Minimum rental cover at affordability rate on an interest only basis:
| Rental cover | Affordability | |
125% | 5 year fixed | All other products |
| 4.50% (no porting) | 5.00% | |
Please note: all applications need to be self-financing.
Transitional eligibility criteria
- New Buy to Let (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.
Please note: applicants who have done a product transfer or remortgage application will still qualify as long as the above criteria is met.
Property criteria
The maximum number of properties applicants can own on completion:
| Maximum mortgaged let properties with Santander | Maximum let properties (mortgaged and mortgage-free) |
| 3 | 10 |
Use our Buy to Let calculator to see how much your client could borrow.
