I am delighted to announce that we will be making some improvements to our criteria on BTL cases and making some small tweaks to the pricing of some our products.
Below is an overview of the improvements and changes.
- The application deadline for withdrawn products will be 5pm on Thursday 30th January.
Criteria Improvements
- We will be increasing the maximum LTV across our Buy to Let products, from 70% to 75%*
- This increase to 75% applies for all UK Landlord, Limited Company and Expat products.
- Our LTV bands for BTL products will be up to a maximum of 60% (no change), and then up to a maximum of 75%
*Please note, applications for Multi-Unit Freehold Blocks will continue to be capped at 70%, and we are not increasing to 75% for this property type.
- Our Limited Company BTL Lending Criteria has been enhanced (with one additional Standard Industry Classification (SIC) Code now included). We can now consider applications from SPVs registered under either of the following SIC codes: 68100, 68209 and 68320
Pricing Changes
Owner Occupier Interest-Only
- 2 year fixed rates reduce by 5bps
- 5 year fixed rates increase by 10bps
- RIO held
Buy to Let
- 2 year fixed rates reduce by 10bps
- 5 year fixed rates held
No changes to our discount rates or their underlying reversion rates are being made at this time.