Introducing our 18 month term buy-to-let product available now for Non-Residents and Expats.
Product Summary
| Account Structure | Packaged as 3 accounts – the loan account, Interest Reserve Account and an ORA account. |
| Max Loan size | 75%LTV Fees can be borrowed within the max LTV limit. |
| Acceptable Purpose | Purchase, Remortgage or Equity Release of a BTL property in England or Wales |
| Term | Up to 18 months. No minimum loan term. |
| Exit | Refresh to any of our buy-to-let products at any time using Simple Remo*. No Exit penalties apply. *12 months good loan conduct required, subject to credit policy. |
| Repayments | Interest Only |
| Interest Reserve | Interest Reserve is held for purpose of additional security to offset any possible missed payments on exit. The Interest Reserve account will not be accessable during the short term lend. Any unused Interest Reserve is returned to borrower at the end of the 18 month term. |
| Calculating the interest reserve | Use our excel worksheet to assist with calculations |
| Interest Benefit | Receive 50% interest benefit on the balance of your Interest Reserve Account, and any funds held in your Transactable ORA account. |
| Simpler Doc Requirements | No income documentation required, assessment based off Rental income. Borrowers must have clear credit history. Exit strategy essential. |
For full product details, download the Short Term Lending product sheet and discuss your scenario with your BDM.
Sort Term Lending Product Guide