Intermediary News

New BTL & HPP product ranges, Criteria changes and SVR increase

Further to our email yesterday, we have today launched our new range of Buy-to-Let (BTL) and Home Purchase Plan (HPP) products. In addition, we are announcing changes to our finance criteria and SVR.

Buy-to-Let product changes:

  • All standard BTL products up to 80% FTV reintroduced up to £5m for UK residents, UK Expats and International customers, including portfolios
  • All HMO and MUFB products up to 75% FTV reintroduced up to £5m, including portfolios (For International residents MUFB only)
  • All Green products reintroduced (UK residents only, £500k max finance) which retain the 0.10% discount and energy offsetting incentives
  • Minimum Finance now £100,000 on all products
  • ‘Top Slicing’ option now withdrawn on all BTL products

Home Purchase Plan product changes:

  • All standard HPP products up to 80% FTV reintroduced up to £5m for UK residents, UK Expats and International customers. This includes our 65% FTV 2 year fixed term products
  • All Green products reintroduced (UK residents only, £500k max finance) which retain the 0.10% discount and energy offsetting incentives
  • Minimum Finance now £100,000 on all products

Please note, to provide advice on HPP products you are required to hold specific HPP permissions with the FCA.

For all products there is now a non-refundable Application Fee payable on submission of an application. The fees are as follows:

UK Residents:£149
UK Expats:£199
International Residents:£299

The fee is paid as part of the application process, via a new task called ‘Upfront Fee’ and must be paid by debit or credit card. Please note that the application cannot be submitted until the application fee has been paid.

Full details of all our new rates can be found here.

Finance Criteria
We have today updated our Finance Criteria for our Buy-to-Let (BTL) and Home Purchase Plan (HPP) products. Below are links to documents that summarise the key changes:

Standard Variable Rate
Following the recent change to the Bank of England base rate, we are today increasing our Standard Variable Rate (SVR) for new business to 6.75% (from 6.00%). For existing customers, the new SVR takes effect from the next Rent Review date of 1 January 2023.

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.