BTL applicants should have a minimum personal income (either jointly or solely) of £20,000 or more per annum. State benefits are not considered acceptable as personal income for BTL applications.
The Society will accept First Time Landlords, First Time Buyers and/or Non-Owner Occupiers.
The Society applies an assessment of affordability based upon the ‘interest coverage ratio’ of the rental income, vs. the stressed mortgage payment. Where there is a shortfall we can topslice, providing there is sufficient disposable income.