Input your requirements and scroll down for the loan amount.
- Loan Requirement. Input as required Property Value, Rent, Loans to value needed and the term (required for capital repayment calculations).
Section 2: Client Criteria Selection
A. Applicant Tax Band – select applicable from drop down.
- BRT – Basic Rate or non tax payer.
- HRT – Higher Rate tax payer.
- Mixed – joint applications with different tax bands. Few lenders distinguish the difference. Majority do not.
- ART – Additional Rate tax payer.
- LTD – purchases under a Limited Company.
B. Property Type
- SSC – Single Self Contained Unit
- Holiday Let Rent based – Short term lets where the loan is based on rent received.
- HMO – House of multiple occupation up to 6 bedrooms.
- MUFB – Multi Unit Freehold blocks up to 6 units.
- HMO 6 – 10 : House of multiple occupation with 7 to 10 beds.
- MUFB 6 – 10 : Multi unit freehold blocks with 7 to 10 units.
C. Transaction Types
- Purchase: where the transaction is purchase of a new BTL property.
- Let to Buy Resi 2 BTL: this is a remortgage transaction where the home owner wants to let the current property as a buy to let and purchase a new home to reside.
- Remo w Capital: where an existing buy to let property is remortgaged to raise capital. Rates and Rental calculation is same as for purchase.
- Remo £ for £: remortgage without capital raising. Many lenders have reduced ICR and stress rates giving higher loan amounts.
- Remo Bridge B4 6m: Specially useful for auction purchase properties with or without refurbishing. Excludes inherited property.
D. Client Type
- Homeowner : owner occupiers with at least one other BTL property. Owner occupiers purchasing first buy to let, use FTLL option.
- Consumer BTL : also called “accidental” landlords. Owner occupiers who needs to move but cannot sell current property. Some lenders does not allow a BTL remortgage where the applicant has lived.
- Expat: UK resident / citizens living and working abroad.
- FTB : First Time Buyers, applicants who do not currently own any other property, including their own residential. There is only a restricted number of lenders for these clients.
- FTB with HO : joint applications where one applicant is a property owner and the other does not own any other property. Most BTL lenders with treat them as home owner but there are exceptions.
- FTLL : First time landlord. Owner occupier purchasing first BTL property. There are few lenders that only lend to experienced landlords.
- Portfolio LL – eliminates lenders that do not lender to investors with greater than 4 BTL properties.
- Regulated BTL : purchase of a BTL for family member to live.