Buy-to-let policy
Allowable Purposes
- Lending must be to individuals (rather than a company, trust, SPV etc) and is subject to our criteria for property and tenancy
- We allow additional borrowing for most reasons other than business purposes, stocks and shares, currency speculation, time-shares, ASU premiums and tax bills
- Allowable purposes for additional borrowing include for the deposit on a new property, home improvements, secured or unsecured debt consolidation, paying off a Help to Buy Equity Loan in full, fully staircasing shared ownership
For additional borrowing taken out as part of a let to buy transaction to purchase a new residential property, check the let-to-buy article of our BTL criteria.
Maximum LTV
The maximum LTV for additional borrowing, including where it is for debt consolidation, is 80%.
The maximum LTV for portfolio landlords is 75%.