Top Slicing

The flexibility for your client to use their client income to top up a rental shortfall

We pride ourselves in being a flexible lender, applying common sense to help brokers help their clients. Being flexible means, we can now help your landlord clients when their rental income doesn’t meet our affordability calculation and use their personal income to ‘top up’ the shortfall.

Please use the rental calculator to determine the rental coverage required or if surplus income can be used.

In order for your application to qualify for top slicing the following criteria should be met:

 

  • Where surplus earned income is being used to cover any rental shortfall (Top Slicing) customers must reside in the same property

  • For experienced landlords the minimum income (not derived from rental properties) is £40,000 for single and joint applications 

  • For first time landlords the minimum income (not derived from rental properties) is £75,000 for single and joint applications. (An application is considered to be from a first-time landlord if, at the time of applying, none of the applicants own a property that has been let for more than 12 months)

  • The interest coverage ratio based on rental income only must be greater than or equal to 100% and less than the minimum required ICR threshold for the application

  • Maximum LTV of 75%

  • The security property is not a new build property

  • Not available on Let To Buy Applications

  • Not available if your applicant is capital raising for unsecured debt consolidation or to cover other personal expenditure (e.g. Car Purchase, Holiday, School fees, Gift to relative).