5 Year Fixed Rate 3.27% at 75% LTV with least rent cover
Maximum BTL Mortgage from Generous Rent Calculation
A monthly rent of just £750 will support a maximum mortgage of £196,500 with no minimum personal income required from the applicant. The lender fee can be added to the mortgage taking it over the 75% max loan amount.
For leasehold properties, the lender only requires a minimum of 50 years remaining on the lease at the end of the mortgage term, so with the minimum mortgage term of 5 years, a leasehold property with just 55 years left on the lease would be acceptable.
Applicants must be homeowner-occupiers.The minimum age for applicants is just 21 with a minimum of 3 months in current employment, or just 12 months in self employment.
This mortgage product is available for purchase or remortgage and it is portable to a subsequent property.
|Rate Description||5 Year Fixed Rate|
|Reverting Rate||Lender SVR currently 5.64%|
|Security Charge||First charge basis|
|Minimum Property Value||£100,000|
|Minimum Loan Size||£30,000|
|Maximum Loan Size||£1,000,000|
|Maximum Mortgage Term||35 years|
|Income Requirements||No minimum income requirements|
|Accepted Property Types||BTL houses and flats in England, & Wales|
|Property Types Cont.||Ex-council houses and flats accepted|
|Tenancy Types||Single AST|
|Rental Stress Test||140% @ 3.27%|
Minimum Rent Required
|£150,000||£573 per month|
|£200,000||£763 per month|
|£250,000||£851 per month|
|£300,000||£954 per month|
|£350,000||£1,336 per month|
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