From Wednesday 24th November 2021 we’re removing our BTL minimum income requirements.
The removal of our minimum income requirements
To help more landlords, including those who would normally meet our lending criteria and risk profile but wouldn’t meet our minimum income requirements, we’ll no longer be asking for a minimum income of £25k.
Minimum income requirement of £50k still applies to top slicing applications.
Affordability will still be based on the existing rental thresholds
In addition, if you have a landlord client who’s also a first-time buyer, rather than just ‘computer says no’ our underwriters will have the flexibility to review each case on its merits and give you a lending decision based on good old common sense. Our criteria will stay the same, but if you have a landlord client who’s also a first-time buyer contact your Business Development Manager, because we might just be able to help.
To see all our buy to let criteria, click here.
When is this changing?
These changes will be live from 8am on Wednesday 24th November.