fast-track buy to let mortgages
Got a client who needs a quicker, hassle-free way to finance residential rental properties? Our Fast-Track solution is designed for landlords who want speed without compromise – with an offer in just 5 working days.
Key highlights
Loans from £250,000 to £3 million
Loan to value up to 75%
Fixed rates
Loan terms from 5 to 10 years
Interest only.
What we need from you
Within 10 working days of the terms being issued, we need:
the completed application form, including ALIE and direct debit mandate
3 years’ annual accounts
3 months’ bank statements
the completed property schedule
a mortgage statement (if applicable)
evidence of deposit (if purchase).
Fast-Track Buy to Let mortgage rates
Fast-Track Buy to Let mortgage criteria
Lending criteria
Type of borrower
Sole traders.
Limited companies.
Limited liability partnerships (LLP).
Ownership structure: up to 4 ultimate beneficial owners (UBOs) or partners, with no complex ownership arrangements.
Eligibility
Maximum age limit: 75 at loan expiry.
No connections to high-risk jurisdictions or industries.
No adverse credit history.
Company registered in England and Wales.
All the shareholders and directors must be UK residents.
The company does not need to have a business account with us.
Capital raising purposes
Purchasing another property.
BTL operational purposes.
Property improvements (not including structural or development).
100% capital raising is not permitted.
Affordability
Limited company: Gross rental Interest Cover Ratio (ICR) of 125% at the product stress rate.
Personal name: Gross ICR of 140% at the product stress rate plus 0.6%.
The rental income used in this calculation must be the lower of passing rent or market rent.
Maximum loan per block or property
£3 million.
Maximum committed term
up to £2 million: 25 years.
over £2 million: 10 years.
Asset criteria
Type of property
Must meet Decent Home Standards and be:
houses
flats
bungalows
multi-unit freehold blocks (MUFBs) up to 5 units.
If the property has an Houses in Multiple Occupation licence, our HMO mortgage will be a better fit.
Size
Gross External Area (GEA) at least 35 sqm.
Minimum value per property or unit:
£135,000.
EPC rating
A to C.
Tenancies
Let on Assured Shorthold Tenancy (AST) agreement.
Personal guarantee
£175,000 or 10% - whichever is higher, from one or more directors.
Valuation
To be completed by a YBS panel valuer and lending based on the lower of:
purchase price
open market vacant possession
investment valuation.
Download our Guide to buy to let fees and charges (PDF, 182KB)
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