We have now introduced a new lower rate on our BTL range. The starting rate is now 4.99% per annum with 1% deferred, giving a pay rate of 3.99% per annum!
As always, we only need 100% rental cover at the pay rate.
For all Wave 1-3 deals, where the net loan is above £500,000, the rate will be reduced by 0.5%.
| Wave 1 | Wave 2 | Wave 3 | Wave 4 | Wave 5 | |
| Net loan over £500K: | 4.99% rate | 5.49% rate | 5.99% rate | 6.99% rate | 7.49% pay rate |
| 3.99% pay rate | 4.49% pay rate | 4.99% pay rate | 4.99% pay rate | 5.49% pay rate | |
| Below £500K: | 5.49% rate | 5.99% rate | 6.49% rate | 6.99% rate | 7.49% pay rate |
| 4.49% pay rate | 4.99% pay rate | 5.49% pay rate | 4.99% pay rate | 5.49% pay rate | |
| Stress test | 100% of pay rate | 100% of pay rate | 100% of pay rate | 100% of pay rate | 100% of pay rate |
I’ve already been through the pipeline and sent out revised AIPs for the deals that qualify for a rate reduction.
If you have had some indicatives from me, where the net loan is over £500,000, please do let me know and I will amend those too.
Remember – we can now get to 70% LTV on certain deals.
As always, let me know if you have any BTL, bridging, developer exit or refurb deals that we may be able to help with. Our minimum loan size is £150,000 so it doesn’t have to fit the above.
Kind regards,
Josh
Josh Knight
Business Development Manager
t: 0345 222 9009
m: 07741 591922
a: Labs Triangle, Chalk Farm Road, London NW1 8AB