2 Year Tracker Rate at 4.99% on 85% LTV for Single BTL
Residential Investment Mortgage 85% LTV no Minimum Income
2 year tracker rate for single family dwelling residential investment with generous rental cover . Lender fee can be added to the mortgage and no early repayment charges.
Family gifted deposit allowed. Maximum mortgage term of 35 Years. No minimum personal income requirements. Allows ex-council houses and flats.
|Rate Description||2 Year Tracker (Variable)|
|Security Charge||First charge basis|
|Lenders Fee||2.5% (can be added to loan) for 85% LTV Lending|
|Minimum Property Value||NA|
|Minimum Loan Size||£75,000|
|Maximum Loan Size||£1,000,000|
|Maximum Mortgage Term||35 years|
|Income Requirements||No minimum income requirements but income must be provable|
|Accepted Property Types||Residential letting houses and flats in England and Wales.|
|Property Types Cont.||Available to ex-council houses (exc. flats). No bedsits. Not for flats in freehold house. Flats over commercial accepted. maybe LTV restriction on some property classifications|
|Tenancy Types||Single AST only. DSS tenants accepted. Not accepted: Corporate tenants accepted inc local authority and housing association contracts.|
|Rental Stress Test||130% at 5.34% i.e. £1000 rent supports a max borrowing of £172,681|