Buy-to-Let Mortgage Criteria

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February 24, 2020

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Buy-to-Let criteria is fast become broader and better for Landlords

Lenders are loosening those previously tight restrictions on Buy to Let mortgages to try and encourage borrowing in this Industry. Some highlights to look out for include:

  • Day-one remortgages – with the valuation being based on the original purchase price, speeding up the process
  • Capital Raising – you can lend up to 75% if you are raising funds to buy additional portfolios, making property improvements or gifting deposit monies on portfolio landlords
  • Personal income – can be used to top up any rental shortfalls to help get you the loan amount you need
  • Straight balance swaps – remortgaging with no additional income means you can achieve a lower rental yield for the same loan amount, or borrow more with the same rental income.
  • Gifted deposits – looking to expand your property portfolio but don’t have the money right now, lenders now accept gifted deposits from fmily members to use towards your purchase.
  • Higher interest rate stress tests – lenders are lowers their interest rate stress test allowing a greater borrowing

If you think you could benefit from any of the above or woud like more information get in contact today!

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