Skipton International are delighted to announce yet another enhancement to their UK Buy to Let mortgage offering to help clients to achieve greater levels of borrowing against their rental yields.
Their proactive approach will provide an enhanced offering to their high net worth clients looking to borrow over £500,000 on a reduced rental tolerance of 110% (from 125%).
What does this mean in real terms for your client?
- Property value £1,000,000
- Monthly rental £2,400 pm (2.88% yield)
- Remortgage on 5 year fixed deal at 3.74%.
At present, £2,400 pm rental income supports £616,000 of borrowing at the higher tolerance level. However, a mortgage of £700,000 would be achievable on the reduced tolerance level of 110% an increase of £84,000 available borrowing.
Clients must have sole income (or main earner if joint application) of GBP £100,000 equivalent, Debt income ratio not to exceed 20%, min loan amount £500,000. One loan at 110% per client where multiple properties exist in clients' portfolio.
Refer
If you would like to pass the customer over to Impact Specialist Finance to handle, for example the case is too complex (Bridging/Over 55’s/Portfolios), you are going on holiday and they require an immediate solution or you don’t have the relevant permissions, we are able to accept referrals for regulated and non-regulated cases. You will still get paid and the customer will always remain yours!
Call us on 01403 272625
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