Happy New Year!

Santander for Intermediaries wanted to remind you of some of the positive changes we made last year…

• Buy to Let:
  • 50% affordability rate for 5 year fixed products
  • 130% rental cover where at least one applicant’s income tax band is 20% or less
  • 125% rental cover at 5.00% affordability rate for remortgages without capital raising (transitional arrangements)
  • Removed £50,000 minimum income requirement
• Amount of secondary income we use increased to 65% for residential mortgages
• Soft footprint at agreement in principle
• Started paying procuration fees on product transfers
• Interest only – increased maximum age to 70^th birthday for residential mortgages

We look forward to working with you in the year ahead and there’s lots more coming up in 2018…so watch this space!