Changes to our maximum Finance to Value, Standard Variable Rate and BTL stress test rates

Our new product range is now available. Please note the changes detailed below:

Maximum Finance to Value (FTV)

We have today reduced the maximum Finance to Value across all Buy-to-Let (BTL) and Home Purchase Plan (HPP) products to 75% FTV from 80%, and for all HMO and MUFB products to 70% FTV from 75%. The lower 65% tiers on all products have not been changed.

Standard Variable Rate (SVR) increase

Following the recent increase in the Bank of England base rate, we have today changed our SVR for new business to 7.00% (from 6.75%). For existing customers on ‘follow-on’ rates, their new payment rate takes effect from the next Rent Review date of 1 July 2023.

Buy-to-Let (BTL) ‘stress rate’ increase

From today, we will also be increasing the ‘stress rate’ for all 2 year fixed term BTL products, including HMO and MUFBs, by 0.25% to 8.00%.

Please note that all existing DIPS, Applications and Offers will be honoured on current terms for as long as they remain valid and on the same property.

Our product range is available to UK residents, UK Expats, International residents and UK registered corporate entities looking to purchase or refinance property in England and Wales. Our full range of products can be found here.

If you have any queries or require further information our team remains available via phone and email, details of which can be found here.

Thank you for your continued support.