Buy-to-let policy
We have two types of BTL assessment, rental cover and top slicing.
Rental cover
Under a rental cover assessment, the rental income must cover the mortgage payment by a minimum ICR (Interest Cover Ratio) based on the relevant Stress Rate
This is the assessment we use for all portfolio landlords, and we use it for non-portfolio landlord cases unless top slicing could help.
We have no minimum income for a rental cover assessed BTL.
You can find our minimum ICRs and stress rates under our rental cover criteria.
Top slicing
Top slicing uses a customer’s spare personal income to boost their borrowing amount, by allowing a lower ICR than we may otherwise allow.
We consider top slicing for non-portfolio landlords.
Check our top slicing criteria.