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Buy to Let Products

Get life moving with our Buy to Let product range - effective from 9th October 2024.

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We can help you get life moving for more specialist Buy to Let mortgage customers
with our flexible criteria, fee free options and fixed rate deals.

 

Buy to Let Product range - jump to a section:

〉Our product range
〉Customer credit profiles explained
〉Key Buy to Let Criteria
〉Useful downloads, resources & links

 

 

BTL LIMITED EDITIONS

These Limited Edition products may be withdrawn without any notice.

5 year fixed

Limited tranche availability

 

TypeLTVTierInitial rateFeeMin loan
Standard Limited Edition75%Vida 364.29%6%£50k
HMO/MUB Limited Edition75%Vida 364.59%6%£50k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.89% (VVR + 2.84%)

 

Standard range
2 year fixed

Standard range - 2 year fixed rate

Available for both purchase and remortgages

TypeLTVTierInitial rateFeeMax loan
Standard75%Vida 365.67%2%£1m
Vida 245.74%
Vida 66.13%
Packager6.79%
Standard80%Vida 366.14%2%£750k
Vida 246.34%
Vida 66.64%
Standard85%Vida 366.64%2%£500k
Expat75%Vida 366.09%2%£1m
HMO/MUB75%Vida 365.73%2%£1m
Vida 245.94%
Vida 66.48%
HMO / MUB75%Packager6.84%2%£1m
HMO / MUB80%Vida 366.23%2%£750k
Vida 246.39%
Vida 66.84%
HMO / MUB85%Vida 366.89%2%£500k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV except 85%

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.89% (VVR + 2.84%)

5 year fixed

Standard range - 5 year fixed rate

A minimum term of 6 years is required.

Available for both purchase and remortgages

TypeLTVTierInitial rateFeeMax loan
Standard75%Vida 364.84%4%£1m
Standard75%Vida 365.24%2%£1m
Vida 245.71%
Vida 66.14%
Standard75%Packager6.34%2%£1m
Standard80%Vida 365.26%4%£750k
Standard80%Vida 365.66%2%£750k
Vida 245.96%
Vida 66.26%
Standard85%Vida 366.59%2%£500k
Expat75%Vida 365.84%2%£1m
HMO/MUB75%Vida 365.28%4%£1m
HMO/MUB75%Vida 365.68%2%£1m
Vida 246.06%
Vida 66.59%
HMO / MUB75%Packager6.79%2%£1m
HMO/MUB80%Vida 365.56%4%£750k
HMO/MUB80%Vida 365.96%2%£750k
Vida 246.51%
Vida 66.94%
HMO/MUB85%Vida 366.69%2%£500k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV except 85%

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.89% (VVR + 2.84%)

 

 

Fee Saver
2 year fixed

Fee saver - 2 year fixed rate.

Available for both purchase and remortgages.

No assessment fee, free valuation on properties up to £1m and a reduced product fee.

TypeLTVTierInitial rateFeeMax loan
Standard75%Vida 366.80%0.75%
(min £795)
£1m
HMO/MUB75%Vida 366.69%0.75%
(min £795)
£1m

 

Fees

Assessment Fees:

No Assessment Fee payable on Fee Saver Range

Standard valuation fees apply on properties valued above £1m

Additional information

Minimum loan £50k

ERCs

4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.89% (VVR + 2.84%)

5 year fixed

Fee saver - 5 year fixed rate

Available for both purchase and remortgages

A minimum term of 6 years is required.

No assessment fee, free valuation on properties up to £1m and a reduced product fee

TypeLTVTierInitial rateFeeMax loan
Standard75%Vida 365.69%0.75%
(min £795)
£1m
HMO / MUB75%Vida 365.96%0.75%
(min £795)
£1m

 

Fees

Assessment Fees:

No Assessment Fee payable on Fee Saver Range

Standard valuation fees apply on properties valued above £1m

Additional information

Minimum loan £50k

ERCs
5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.89% (VVR + 2.84%)

 

What's new?

Rate reductions on Vida 36, 5 year fixed 75% LTV.

Get the download


πŸ—Ž Buy to Let Product Guide
Updated October 9th 2024
πŸ—Ž Criteria Guide
Updated October 9th 2024
πŸ—Ž Buy to Let Application Checklist
Updated July 10th 2024

Buy to Let Hub

We've made it quick and easy to submit details of your clients' property portfolio to us.

Visit the Buy to Let Hub ➜


 

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Customer credit profiles

Should your customer have adverse that falls outside of our three Credit Tiers, we still may be able to help with our Packager Tier.

CriteriaVIDA 36VIDA 24VIDA 6PACKAGER
Months since last default ≥  £2500 in 360 in 240 in 6Considered < 6 months
Months since last CCJ ≥  £2500 in 360 in 240 in 6Considered < 6 months
Worst status Secured Payments* (months)0 in last 363 in last 24Considered (no max)
No secured arrears allowed within the last 6 months
Number of missed unsecured payments ≥  £250 in the last 6 months**1 in 62 in 63 in 6Considered (no max)
Bankruptcy / IVA / DRO / Trust Deed3 years +1 year +
Previous repossessions6 years +3 years +
  • Vida 36
    Months since last default0 in 36
    Months since last CCJ0 in 36
    Worst Status Secured Payments* (months) 0 in last 36
    Number of missed unsecured payments >£250 in the last 6 months**1 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
  • VIDA 24
    Months since last default 0 in 24
    Months since last CCJ 0 in 24
    Worst Status Secured Payments* (months) 3 in last 24
    Number of missed unsecured payments >£250 in the last 6 months**2 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
  • Vida 6
    Months since last default0 in 6
    Months since last CCJ0 in 6
    Worst Status Secured Payments* (months) 3 in last 24
    Number of missed unsecured payments >£250 in the last 6 months**3 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
    Worst Status Secured Payments* (months) 3 in 24
  • PACKAGER
    Months since last default Considered < 6 months
    Months since last CCJ Considered < 6 months
    Worst Status Secured Payments* (months) Considered (no max)
    Number of missed unsecured payments >£250 in the last 6 months** Considered (no max)
    Bankruptcy / IVA / DRO / Trust Deed1 year +
    Previous repossessions3 years +

*All historic secured arrears must have been made up to date for at least 6 months prior to application
• Debt Management Plan/Debt Arrangement Schemes may be considered at Underwriter discretion - subject to satisfactory affordability and conduct checks.

 

 

Criteria Highlights

 

Worldwide Expats

For existing UK property owners living or working in selected EEA or worldwide countries

First time landlords considered

No minimum income required

HMOs / MUBs and student lets

Up to 6 bedrooms for HMOs and 6 units for MUBs

Student lets considered

Applications considered where no previous landlord experience

First Time Buyers

No income verification required

Minimum age 21

Standard ICRs apply - no uplift applied for FTBs

Up to 4 applicants allowed

Specialist properties

Ex-Public Sector properties

New Build

Flats above or adjacent to commercial considered

High-rise flats considered with no restrictions on the maximum number of storeys

Limited company SPV

Up to 4 individuals accepted

SPV must be registered in England, Wales or Scotland

125% rental calculation for all property types

No minimum time required for SPV incorporation

 

What's new?

All defaults and CCJs under £250 are ignored.

Get the download


πŸ—Ž Buy to Let Product Guide
Updated September 11th 2024
πŸ—Ž Criteria Guide
Updated September 11th 2024
πŸ—Ž Buy to Let Application Checklist
Updated July 10th 2024

Back to Top ↑

 

 

 

Useful downloads, guides & links

 

 

Back to Top ↑