Buy-to-let bulletin Rental and/or earned income considered Lender Product(s)
Minimum Rate used rental
ABBEY ACCORD MORTGAGES ALDERMORE BANK OF CHINA (UK) BANK OF IRELAND (UK) BATH BS BM SOLUTIONS
BUCKINGHAMSHIRE BS CAMBRIDGE BS
CHELTENHAM & GLOUCESTER
CLYDESDALE BANK COVENTRY BS
CUMBERLAND BS DARLINGTON BS DRAGONFLY
PROPERTY FINANCE DUDLEY BS
EARL SHILTON BS ECOLOGY BS FURNESS BS
GODIVA MORTGAGES HALIFAX
HINCKLEY & RUGBY BS HOLMESDALE BS HSBC
IPSWICH BS LEEDS BS
LEEK UNITED BS LLOYDS TSB SCOTLAND All All All All except below 125% Higher of
SVR, pay rate or 6%
125% Higher of pay Repayment
rate or 0.99% below BTL SVR
125% Higher of
pay rate or revert rate
100% 8.88%
Private Banking product 100% 4.50% All
All ‘Buy-to-let’
‘House 2 House’ All All
125% Higher of
pay rate or 5%
125% Pay rate 125% Pay rate
135% Pay rate 125% Higher of
pay rate or revert rate
All - max 60% LTV 100% 7.5% All - over 60% LTV 100% 8%
All All All All
All except below
125% Pay rate 125% Pay rate 125% Pay rate 166% Pay rate 100% Pay Rate
Deferred Int option 115% Pay Rate All
All All All All All All All All All All All
130% Higher of
pay rate or revert rate
140% Pay rate 135% Pay rate 125% Pay rate 125% Pay rate 125% Pay rate 135% Pay rate 130% Pay rate 130% Pay rate 125% Pay rate 125% BTL SVR 125% Pay rate
All - max 60% LTV 100% 7.5% All - over 60% LTV 100% 8%
LOUGHBOROUGH BS MANCHESTER BS
MANSFIELD BS MARSDEN BS
MELTON MOWBRAY BS MONMOUTHSHIRE BS
MORTGAGE TRUST
All All
All
MARKET HARBOROUGH BS All All All All
All
130% Pay rate From 130% Pay rate
to
180% Pay rate 130% Pay rate 130% 6%
125% BTL SVR 130% Pay rate 125% Higher of
pay rate or SVR + 1%
125% Higher of
pay rate or 5%
22 Interest only
Interest only Interest only Interest only Interest only Interest only
Earned income also considered on an ‘ability to pay’ basis
£20K £25K £25K £25K £25K
£25K £25K £25K
Interest only Option of ability to pay plus 50% of rental income Repayment Repayment Interest only Interest only
Interest only Plus ability to pay (indvidually considered) Interest only Plus earned income Interest only Interest only Interest only Interest only
Interest only Option of ability to pay plus 50% of rental income. Minimum Interest only
Interest only Interest only
earned income for advances over £500K - £50K first/single or joint £35K
£25K £25K
£30K £25K
Interest only All products have option of ability to pay plus 50% of rental income. Minimum £35K Interest only
earned income for advances over £500K - £50K first/single or joint
Repayment Interest only
Interest only Plus other income, individually assessed Interest only Interest only
Interest only Interest only
£30K £35K
£35K £35K
(Applies to max advance £500K)
£25K £30K
Interest only Plus ability to pay Interest only
Repayment Interest only
£25K £25K
Ability to pay. Minimum earned income not required for 1st property application £50K £25K
£50K £25K
Repayment Repayment
Interest only
Plus ability to pay Plus ability to pay
£18K £18K
Interest only Minimum income applies to first time landlords only £25K £25K £20K
RENTAL INCOME CALCULATION in rental
cover calculation required
Notes on rental income calculation or other method(s) used to assess
Interest only income or repayment calculation
Interest only
MINIMUM EARNED INCOME
First or Joint single
applicant £25K applicants
£20K £20K £35K
£35K
£35K £35K
(Applies to max advance £500K)
£30K £40K
READERS ARE REMINDED THAT BUSINESS MONEYFACTS IS COPYRIGHT
March 2012
BUY-TO-LET MORTGAGES
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