Take a look at some of our key criteria around First Time Buyer / First Time Landlords. And if you have any queries about your customer’s case, the V-Hub team will be happy to help!
FTB / FTL Criteria Highlights
Experience
- No experience required for purchase of individual units. Less than 12 months landlord experience may be considered for HMOs (Houses of Multiple Occupancy) and MUBs (Multi Unit Blocks)
Minimum age
- 21 years for primary applicant. 18 years for other applicants if direct family members
Maximum LTV
- Up to 85% LTV
Income
- No minimum income requirements
Expats
- First Time Landlords considered for loans up to £500,000. Applicants must own a UK property
Affordability
Rental Cover Rates:
- Basic rate & SPVs including Expats / HMOs & MUBs: 125%
- Higher rate including Expats / HMOs & MUBs: 140%
Rental Calculation:
- 5 or more years fixed rate products at the initial product rate. All other products at the product rate + 2% or 5.5%, whichever is higher.
Portfolio
- One applicant should have at least 1 year’s landlord experience where 4 or more mortgaged properties are owned however, we may consider landlords with less experience.