Yes, it’s true…Buy to Let portfolio landlords
- We only accept portfolio landlords for remortgages without capital raising which meet our eligibility criteria for transitional arrangements
- Transitional arrangements criteria:
- New Buy to Let (BTL) remortgage application must not be capital raising
- BTL property must have been purchased before 1 January 2017
- No increased lending has been taken on or after 1 January 2017
- The application must also 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: no more than ten secured credit commitments at application
- Our Buy to Let calculator quickly tells you how much your client could borrow and whether the property is self-financing
- Free standard valuation up to a property value of £2.5m plus a choice of standard legal fees paid or £250 cashback when your client remortgages to us (ERC applies)
If you want to know more about the above, please call your dedicated contact
