Family Building Society – The hot topic this week is BTL

Here’s what Family Building Society have to say:

The hot topic this week is BTL. We offer a range of Products for Personal BTL, Ltd Company BTL and EXPATS. If you have any case enquiries or questions, please do not hesitate to get in touch.

BTL Criteria Across ALL Lending Areas

The below criteria covers all of the products we have available and I have listed some Product specific criteria further down:

  • Max age 89 at application
  • No minimum income criteria
  • Multi Unit Freehold Block (MUFB) considered for converted houses.
  • No maximum portfolio size with other lenders
  • No background stress on their portfolio – just needs to be profitable.
  • ICR Calculations (irrelevant of clients own personal tax bracket)
        1. £4£ Remo – 130% @ 5.5% or the product rate + 2% (whichever is higher) unless using 5yr Fixed
        2. Capital Raising 145% of the above.
  • Max LTV 65%
  • 4 applicants on a mortgage allowed

EXPATs

  • Over 40 countries of residence accepted. We will still lend to ExPATs in Europe.
  • For the majority of countries, no restrictions on employed/Self Employed/Retired.
    Some higher risk countries may mean the clients need to have an employer with a UK office. Please contact me for further information
  • Clients only need a live UK mortgage, do not need multiple lines of open credit
  • UK Correspondence address required – usually close family members.

LTD Company

  • SPV’s only
  • 55% LTV available with no personal guarantee’s
  • Maximum of 8 directors/shareholders