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‘A smart move by a smart buy-to-let lender’ – Ying Tan

by: Ying Tan, managing director of Buy to Let Club
  • 08/01/2018
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‘A smart move by a smart buy-to-let lender’ – Ying Tan
While the buy-to-let sector had a break over Christmas, lenders made sure to get in some last minute announcements in the closing moments of 2017.

The big news came from Precise which announced it will now accept landlord’s income to cover rental requirement shortfall.

Its income-supported buy-to-let offering means those landlords who easily have the means to cover any shortfalls can now make use of this rather than being rejected unnecessarily – a smart move by a smart lender.

Precise also launched a limited edition lifetime tracker product which will be available for personal ownership buy-to-let.

The product is not available for limited company, limited company HMO or houses in multiple occupation (HMO).


Rental cover rate changes

Skipton made some changes to its buy-to-let range, including implementing rate reductions of up to 0.25% on selected products and a rate increase of 0.16% on five-year buy-to-let fixes for remortgages to 60% LTV with a £1,995 fee (up to 2.35% from 2.19%).

Accord had a little Christmas present for the market, reducing three of its five-year deals at 65% LTV by up to 0.27%. The new rates are available for either purchase or remortgage and come with a range of incentives including cashback, free legals and free valuation.

Finally, Santander has made a host of changes to its buy-to-let proposition including introducing a 130% rental cover rate where at least one applicant’s income tax band is 20% or less.

Where all applicants’ income tax band is 40% or 45% a rental cover rate of 145% will apply. Meanwhile a 125% rental cover will apply for remortgages without capital raising under transitional arrangements for all income tax bands.


And that was it for 2017. We’re ready for you 2018.

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