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Buy to Let Products
Get life moving with our Buy to Let product range - effective from 26th March 2024.
We can help you get life moving for more specialist Buy to Let mortgage customers
with our flexible criteria, fee free options and fixed or variable rate deals.
Buy to Let Product range - jump to a section:
γOur product range
γCustomer credit profiles explained
γKey Buy to Let Criteria
γUseful downloads, resources & links
BTL LIMITED EDITIONS
These Limited Edition products may be withdrawn without any notice.
5 year fixed
Limited tranche availability
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard Limited Edition | 75% | Vida 36 | 4.89% | 6% | £1m |
| HMO/MUB Limited Edition | 75% | Vida 36 | 5.04% | 6% | £1m |
Fees
Assessment Fees:
A non-refundable £180 is payable on all applications
Standard valuation fees apply
Additional information
Minimum loan £50k
ERCs
5%, 5%, 4$, 3%, 2%
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
Standard range
2 year fixed
Standard range - 2 year fixed rate
Available for both purchase and remortgages
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard | 65% | Packager | 7.24% | 2% | £1m |
| Standard | 75% | Vida 36 | 6.34% | 2% | £1m |
| Vida 24 | 6.49% | ||||
| Vida 6 | 7.04% | ||||
| Packager | 7.49% | ||||
| Standard | 80% | Vida 36 | 6.64% | 2% | £750k |
| Vida 24 | 6.69% | ||||
| Vida 6 | 7.29% | ||||
| Standard | 85% | Vida 36 | 6.94% | 2% | £500k |
| Expat | 75% | Vida 36 | 6.59% | 2% | £1m |
| 65% | Packager | 7.39% | 2% | £1m | |
| HMO/MUB | 75% | Vida 36 | 6.44% | 2% | £1m |
| Vida 24 | 6.64% | ||||
| Vida 6 | 7.24% | ||||
| HMO / MUB | 75% | Packager | 7.49% | 2% | £1m |
| HMO / MUB | 80% | Vida 36 | 6.74% | 2% | £750k |
| Vida 24 | 6.79% | ||||
| Vida 6 | 7.39% | ||||
| HMO / MUB | 85% | Vida 36 | 7.14% | 2% | £500k |
Fees
Assessment Fees:
A non-refundable £180 is payable on all applications
Product fees can be added to loan above max LTV except 85%
Standard valuation fees apply
Additional information
Minimum loan £50k
ERCs
4%, 3%
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
5 year fixed
Standard range - 5 year fixed rate
A minimum term of 6 years is required.
Available for both purchase and remortgages
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard | 65% | Packager | 6.69% | 2% | £1m |
| Standard | 75% | Vida 36 | 5.29% | 4% | £1m |
| Standard | 75% | Vida 36 | 5.39% | 2% | £1m |
| Vida 24 | 5.69% | ||||
| Vida 6 | 6.64% | ||||
| Standard | 75% | Packager | 6.74% | 2% | £1m |
| Standard | 80% | Vida 36 | 5.59% | 4% | £750k |
| Standard | 80% | Vida 36 | 6.29% | 2% | £750k |
| Vida 24 | 6.64% | ||||
| Vida 6 | 6.69% | ||||
| Standard | 85% | Vida 36 | 6.64% | 2% | £500k |
| Expat | 75% | Vida 36 | 6.09% | 2% | £1m |
| HMO / MUB | 65% | Packager | 6.84% | 2% | £1m |
| HMO/MUB | 75% | Vida 36 | 5.49% | 4% | £1m |
| HMO/MUB | 75% | Vida 36 | 5.84% | 2% | £1m |
| Vida 24 | 6.54% | ||||
| Vida 6 | 6.79% | ||||
| HMO / MUB | 75% | Packager | 6.89% | 2% | £1m |
| HMO/MUB | 80% | Vida 36 | 5.84% | 4% | £750k |
| HMO/MUB | 80% | Vida 36 | 6.44% | 2% | £750k |
| Vida 24 | 6.84% | ||||
| Vida 6 | 7.14% | ||||
| HMO/MUB | 85% | Vida 36 | 6.79% | 2% | %500k |
Fees
Assessment Fees:
A non-refundable £180 is payable on all applications
Product fees can be added to loan above max LTV except 85%
Standard valuation fees apply
Additional information
Minimum loan £50k
ERCs
5%, 5%, 4%, 3%, 2%
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
Fee Saver
2 year fixed
Fee saver - 2 year fixed rate.
Available for both purchase and remortgages.
No assessment fee, free valuation on properties up to £1m and a reduced product fee.
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard | 75% | Vida 36 | 7.19% | 0.75% (min £795) | £1m |
| HMO | 75% | Vida 36 | 7.39% | 0.75% (min £795) | £1m |
Fees
Assessment Fees:
No Assessment Fee payable on Fee Saver Range
Standard valuation fees apply on properties valued above £1m
Additional information
Minimum loan £50k
ERCs
4%, 3%
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
5 year fixed
Fee saver - 5 year fixed rate
Available for both purchase and remortgages
A minimum term of 6 years is required.
No assessment fee, free valuation on properties up to £1m and a reduced product fee
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard | 75% | Vida 36 | 6.24% | 0.75% (min £795) | £1m |
| HMO | 75% | Vida 36 | 6.34% | 0.75% (min £795) | £1m |
Fees
Assessment Fees:
No Assessment Fee payable on Fee Saver Range
Standard valuation fees apply on properties valued above £1m
Additional information
Minimum loan £50k
ERCs
5%, 5%, 4%, 3%, 2%
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
Standard range - Variable rate
2 year variable
Standard range - Variable Rate
Available for both purchase and remortgages.
| Type | LTV | Tier | Initial rate | Fee | Max loan |
|---|---|---|---|---|---|
| Standard | 75% | Vida 36 | 7.34% (VVR + 0.04%) | 2% | £1m |
| Expat | 75% | Vida 36 | 7.99% (VVR + 0.69%) | 2% | £1m |
| HMO / MUB | 75% | Vida 36 | 7.49% (VVR + 0.19%) | 2% | £1m |
Fees
Assessment Fees:
A non-refundable £180 is payable on all applications
Product fees can be added to loan above max LTV except 85%
Standard valuation fees apply
Additional information
Minimum loan £50k
ERCs
No ERCs are payable on our variable products
Vida Variable rate (VVR)
7.30% set on 01.09.2023
Revert rate
10.14% (VVR + 2.84%)
Buy to Let Key Criteria
Number of tiers reduced with additional adverse now allowable
ICR for HMOs and MUBs reduced to 125% for SPVs
Up to 85% LTV with a minimum loan of £50,000
HMO/MUB and Expat options available
Specialist properties are our speciality
No maximum limit of storeys in a block
π Buy to Let Product Guide
Updated April 9th 2024
π Criteria Guide
Updated April 9th 2023
Customer credit profiles
See where your customer fits within our new Vida tiers.
| Criteria | VIDA 36 | VIDA 24 | VIDA 6 | PACKAGER |
|---|---|---|---|---|
| Months since last default | 0 in 36 | 0 in 24 | 0 in 6 | Considered < 6 months |
| Months since last CCJ | 0 in 36 | 0 in 24 | 0 in 6 | Considered < 6 months |
| Worst status Secured Payments* (months) | 0 in last 36 | 3 in last 24 | Considered (no max) | |
| No secured arrears allowed within the last 6 months | ||||
| Combined value of missed unsecured payments in the last 6 months** | £250 | £500 | Considered (no max) | |
| Bankruptcy / IVA / DRO / Trust Deed | 3 years + | 1 year + | ||
| Previous repossessions | 6 years + | 3 years + | ||
Vida 36 Months since last default 0 in 36 Months since last CCJ 0 in 36 Worst Status Secured Payments* (months) 0 in last 36 Combined value of missed unsecured payments in the last 6 months** £250 Bankruptcy / IVA / DRO / Trust Deed 3 years + Previous repossessions 6 years + VIDA 24 Months since last default 0 in 24 Months since last CCJ 0 in 24 Worst Status Secured Payments* (months) 3 in last 24 Combined value of missed unsecured payments in the last 6 months** £500 Bankruptcy / IVA / DRO / Trust Deed 3 years + Previous repossessions 6 years + Vida 6 Months since last default 0 in 6 Months since last CCJ 0 in 6 Worst Status Secured Payments* (months) 3 in last 24 Combined value of missed unsecured payments in the last 6 months** £500 Bankruptcy / IVA / DRO / Trust Deed 3 years + Previous repossessions 6 years + Worst Status Secured Payments* (months) 3 in 24 PACKAGER Months since last default Considered < 6 months Months since last CCJ Considered < 6 months Worst Status Secured Payments* (months) Considered (no max) Combined value of missed unsecured payments in the last 6 months** Considered (no max) Bankruptcy / IVA / DRO / Trust Deed 1 year + Previous repossessions 3 years +
*All historic secured arrears must have been made up to date for at least 6 months prior to application
**Telecom and Utility missed payments ignored when assessing adverse tier
• Debt Management Plan/Debt Arrangement Schemes may
be considered at Underwriter discretion - subject to satisfactory affordability and conduct checks.
Criteria Highlights
Worldwide Expats
For existing UK property owners living or working in selected EEA or worldwide countries
First time landlords considered
No minimum income required
HMOs / MUBs and student lets
Up to 6 bedrooms for HMOs and 6 units for MUBs
Student lets considered
Applications considered where no previous landlord experience
First Time Buyers
No income verification required
Minimum age 21
Standard ICRs apply - no uplift applied for FTBs
Up to 4 applicants allowed
Specialist properties
Ex-Public Sector properties
New Build
Flats above or adjacent to commercial considered
High-rise flats considered with no restrictions on the maximum number of storeys
Limited company SPV
Up to 4 individuals accepted
SPV must be registered in England, Wales or Scotland
125% rental calculation for all property types
No minimum time required for SPV incorporation
Useful downloads, guides & links
