1Loan & income details
Where a product fee is to be debited to the mortgage account on completion, this should be included in the loan amount and the product loan to value must not be exceeded.
Applicant 1 income
Add second applicant
2Monthly expenditure details
Total monthly expenditure
Please note the following terms: [Click here]
- This calculator should be used as a guide only and is not a guarantee that your application will be approved
- The Society tests that the mortgage is affordable for the borrower in the event of an interest rate increase
- A guide to the affordability of the loan is provided by this calculator, with a further detailed stress test being undertaken on submission of the application
- The stress test process and rate applied by the Society is in line with regulatory requirements
- The calculator makes an initial assessment of the case purely based on the information provided
- The calculator assumes you require an interest only buy to let mortgage – please contact the Society should you require guidance for a repayment buy to let mortgage
- The Society does not use an automated model or Interest Coverage Calculation
- All applications are manually underwritten by our experienced underwriters and assessed based on the applicant(s) full financial circumstances focussing on the affordability of the proposed mortgage taking into account letting costs, taxation of rental profits and their own personal income and expenditure including any other mortgages held
- 3 months bank statements must be provided with the application
- The stated expenditure will be reviewed in conjunction with the bank statements and/or with statistical data, as appropriate
4Existing Buy To Let details
Please list all in the fields below. If your client(s) has more than 5, please contact us.
4Your Result
Declined
Unfortunately based on the information submitted this case does not meet our buy to let affordability criteria. If you wish to discuss your options please call Furness Direct on 0800 988 1561.
Accepted
We’re pleased to confirm that based on the information submitted this case meets our buy to let affordability criteria subject to approval by our underwriting team. Please include this affordability assessment when submitting your application.
Please enter your personal details to complete the process below.
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