Buy to Let - New Build

NewBuild

Overview

A new build property can sometimes be a great opportunity for a buy to let landlord. With products designed specifically for buy to let purchases and a priority processing service in place, we can help make that deal happen.

Range highlights

  • New Build Priority Processing Service: 0330 024 0349
  • Flats in blocks up to 20 storeys accepted
  • New build flats with commercial ground floor considered
  • Offers valid for 6 months, may extend for a further 3 months

Key criteria

  • 80% LTV, minimum customer contribution 20% for both houses and flats
  • Rental cover - ICR: based on individual circumstances
  • Accept self-employed with 12 months trading unless the applicant’s primary business is property letting and the minimum trading period is 3 years
  • Max age at application 80 years, max term 35 years
  • No portfolio limit with other lenders (up to 20 properties with Precise Mortgages up to a maximum of £5m)
  • No minimum income requirements on loans up to £1m
    • Professional landlords (5 buy to let properties and 3 year’s trading)
    • Limited Companies
    • First time landlords and first time buyer landlords

    Packager panel

    Let our Packager Panel do the work for you.

    You can submit a residential or buy to let mortgage to us direct or alternatively you can introduce a case to one of our packagers.

    Contact one of our packagers direct today.

    LIBOR Trackers and the Reversion Rate

    LIBOR Trackers and the reversion rate are variable rates that are linked to 3 month LIBOR and will change quarterly on 12 March, 12 June, 12 September, 12 December. Please note if this date falls on a non-working day then the LIBOR rate will be taken on the previous working day.

    All of our LIBOR tracker products have a floor. This means that if LIBOR were to fall to 0.00% or less the rate payable will be 0.00% plus the agreed set percentage above LIBOR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker mortgage.

For intermediary use only
BBR 0.50% / 3 month LIBOR 0.30%