Intermediary News

Introducing Buy-to-Let Top slicing/Income top-up with streamlined FSCR bandings

We have today made some positive changes to our Buy-to-Let (BTL) product range outlined below:

BTL Top slicing/Income top-up

Available to all UK residents purchasing a BTL property (excluding HMOs/MUFBs) where at least one applicant has a minimum income of £32,000 p.a. subject to underwriting and criteria.

New BTL Top Slicing/Income top-up Calculator

We have Introduced a Buy-to-Let Affordability Calculator which supports rental/top-up calculations which can be found here.

BTL FSCR affordability

The Finance Service Coverage Ratio (FSCR) has been simplified:

  • For basic rate taxpayers or a Limited Company purchasing a standard residential property, the rate is 125% for purchasing individual BTLs or as part of a portfolio
  • For higher and additional rate taxpayers purchasing a BTL property individually or as part of a portfolio, the rate is 145%
  • Where Top-slicing is required, a minimum FSCR of 110% for Limited Companies and 115% for individuals will be required
  • Please refer to our criteria guides for further information here

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

To review our current service levels, click 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.