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Buy to let lending criteria for different lenders
Comments
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By the way, hiking the rent does not necessarily remove the need to put extra cash in.
Lender calculate affordability on BTL mortgage based on assessed market rental potential, not currently achieved rental potential.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
5yr FX have the lower ICR calculations normally. 145% at payrate is normally the standard for higher rate tax payers, you will find a few who do a flat 125% for all.
Best get a broker who knows what they are looking for because if it's tight on the numbers you could be looking for ages.0
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