Under transitional arrangements, the rental cover we can offer is:

125% minimum rental cover at

5.00% affordability rate or

4.50% affordability rate for 5 year fixed rates

Here’s our criteria for transitional arrangements:

The new BTL remortgage application must not be capital raising

The BTL property must have been purchased before 1 January 2017

We can’t accept an increase in lending taken on or after 1 January 2017

Applicants must have no more than ten secured credit commitments at application and must meet our property criteria on completion of the new mortgage:

Maximum number of mortgaged let properties with Santander 5
Maximum number of let properties (mortgaged and mortgage-free) 7

Please note: under transitional arrangements, we accept portfolio landlords.