Rental and/or earned income considered (continued) Lender Product(s)
Minimum Rate used rental
NATIONAL COUNTIES BS All - max 65% LTV 130% Higher of
pay rate or 5%
All - over 65% LTV 135% Higher of
pay rate or 5%
NATWEST INTERMEDIARY See notes SOLUTIONS
NATWEST MORTGAGE
SERVICES NATWEST OFFSHORE
NEWBURY BS NORTHERN ROCK
NORWICH & P’BORO BS NOTTINGHAM BS
PARAGON MORTGAGES PLATFORM PRECISE MORTGAGES PRINCIPALITY BS PROGRESSIVE BS RBS INTERNATIONAL
MORTGAGES DIRECT SAFFRON BS SCOTTISH BS
SHEPSHED BS SKIPTON BS
STAFFORD RAILWAY BS TEACHERS BS
THE MORTGAGE WORKS
First time buyers All
Expatriates
125% 7% 125% 7%
125% 7% 100% 7%
Channel Isles & IOM 100% 7% All All
125% Pay rate 125% Higher of
pay rate or 5.99%
Limited Companies 125% 6.25% All
All except below
HMOs & Multi-unit blocks 130% 7% All
All All All All except below ROYAL BANK OF SCOTLAND All
All All
All All All All
All except below Selected variable
80% products HMO
ULSTER BANK VERNON BS
WOOLWICH from BARCLAYS
YORKSHIRE BANK
All All
All fixed Variable Trackers All 125% BBR +4%
Interest only Interest only
125% Higher of pay rate Interest only or 5%
125% Higher of pay or revert rate 125% Higher of pay or revert rate 125% Higher of pay rate or SVR 130% Higher of pay rate or SVR 100% 7% Channel Isles & IOM 100% 7%
125% Pay rate 130% Pay rate
130% Pay rate 125% 6%
130% 6% 125% Higher of pay rate or 4.99%
125% Pay rate + 0.50% Interest only 125% Higher of pay rate or 5.99%
150% Higher of pay rate or 4.99% Ability to pay 130% 6% 125% Pay rate
125% Higher of pay rate or 4.99%
125% Pay rate
Interest only Interest only
Interest only Repayment
£20K £20K
Interest only Interest only
Interest only Plus other income based on ability to pay Interest only Plus other income based on ability to pay
125% 7% Interest only Interest only
Repayment or Interest only
Interest only Interest only
1st x 3.5 or joint x 3.5 including rental income, less existing mortgage borrowing
Repayment Interest only
£20K £20K £25K Repayment £25K £25K Interest only £20K Interest only £25K
Interest only Repayment
Minimum earned income £60K single and joint on Premier products
£35K £30K £25K
£25K £25K
£50K £50K £25K
£25K
Interest only Interest only
Interest only
Repayment Repayment
Interest only Interest only
Plus other income based on ability to pay Plus other income based on ability to pay
£25K £25K
For second time buyers and remortgages Plus ability to pay
Interest only £15K £15K
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 £15K
applicants £15K
March 2012
READERS ARE REMINDED THAT BUSINESS MONEYFACTS IS COPYRIGHT
23
BUY-TO-LET MORTGAGES
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