Buy-to-Let offer
Posted: 4 years ago
Description
Why finance your Buy-to-Let with us?
We provide a range of Buy-to-Let property finance solutions for UK residents, UK Expats, International residents and UK registered corporate entities looking to purchase or refinance residential investment property across England and Wales.
Our Buy-to-Let purchase plans offer you a Shariah/Islamic compliant alternative to a mainstream Buy-to-Let mortgage, with competitive rates and an ethical approach. You can use it just like a conventional mortgage to buy or refinance your property.
With a Buy-to-Let purchase plan you buy the property jointly with us - your deposit is your stake, and we fund the rest. Once all your payments are made, you acquire the property and the deed of the property transfers to you. You are free to sell the property any time, and there are no early payment charges.
Our Buy-to-Let services include:
- Portfolios welcome – no limit on the number of properties (maximum finance £5m)
- Finance available to individuals (employed, self-employed and contractors) and UK registered corporate entities which include Limited Companies, LLPs (Limited Liability Partnerships) and SPVs (Special Purpose Vehicles)
- Day one refinances from cash and bridging purchases permitted
- Finance available for Houses and Flats (including new build)
- Finance permitted for HMOs (Houses in Multiple Occupation) and MUFBs (Multi-Unit Freehold Blocks) with no upper limit on rooms or flats. (Please note that HMO finance is not available to International residents)
- Available to first time landlords where existing property ownership is not a requirement
- Finance provided up to 80% of the property value up to £1m, and up to 70% of the property value up to £5m, over a maximum 30-year term for UK residents or 25-year term for UK Expats and International residents
- Personal income can be used for rental top ups where a shortfall exists (terms apply; not available to International residents)
- No early payment charges on any product
Am I eligible?
You can apply for Buy-to-Let finance if you meet these criteria:
- Buying or refinancing property in England or Wales
- Seeking finance of at least £100,000
- Minimum age 21 years; no maximum age limit at end of finance term (terms apply)
- Earning at least £18,000, £20,000 for portfolios & £25,000 for HMOs/MUFBs (for UK residents) or £25,000 (for UK Expats and International residents)
- Applications for BTL Portfolios, HMOs and MUFBs are welcome from applicants who have either 2 years letting and financing experience as a standard BTL landlord or 1 year as an HMO landlord
- All applicants must be able to read, speak and understand English to a level that they are fully aware of all obligations and requirements when entering any financing arrangement with the Bank
- We will consider finance applications from applicants residing in over 150 different countries.
- For more details see our Home Finance Applications - Countries Checklist.
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