Buy-to-Let
mortgages

• We will consider applications on a regulated Buy-to-Let product specifically for letting to family members.
• We will not currently consider applications from adult children (sons and/or daughters) purchasing their parents' current residence and then renting it back.
• Regulated Buy-to-Let applications are considered strictly on an affordability basis. Any rental income received will not be factored into our affordability assessment. We obtain the AST to ensure that if the property converted to a traditional Buy-to-Let the gross rent would be at least equal to 125% of the monthly interest payment at the initial pay rate).
• Regulated Buy-to-Let applications are assessed in the same way as a standard residential mortgage. The Society stresses the mortgage repayment in order to assess the affordability of the loan in relation to the clients existing outgoings and factoring in the new Buy-to-Let.
• The stated expenditure will be reviewed in conjunction with the bank statements and/or with statistical data, as appropriate. Applications will be declined where affordability cannot be proven on realistic expenditure.
• The Society will consider applications on an Interest only or repayment basis.

Contact your BDM with any additional questions you may have.