We’ve improved buy to let stress rates
26 April 2023 • Products & Services
We’ve changed our stress rates for buy-to-let mortgages to better reflect market conditions and in response to intermediary feedback.
The new rates are 5-year fixed rate with a stress rate at the payrate and 2% above pay rate for a 2-year fixed or discounted rate.
Gross rental income from the security property, must be at least 140% of the required mortgage payment when calculated at the relevant stress rate.
The new rates are for all mortgage types, whether purchase, remortgage or further advance, with a minimum income of £25,000.
Our comprehensive Buy To Let range includes ex-pat and holiday let.
Our Intermediary Manager, Kathy Bowes, said: “We hope that these changes to our Buy to Let stress rates will provide our intermediaries with more choice for their clients and support those landlords looking to refinance or purchase a Buy to Let property.”
Our mortgage products can be found by clicking here. All our mortgages are available on properties across England and Wales.
For more information contact the team today.