Loans of between £20,000 and £750,000 are available and top slicing will be permitted on up to three mortgaged rental properties at up to 75 per cent loan to value (LTV). The lender withdrew top slicing in April 2020 during the pandemic.
It is available across the mutual’s standard BTL range, which includes two-year discounted and five-year fixed rates, via its in-house mortgage advisers and intermediary network.
Tracy Simpson (pictured), Cambridge Building Society’s head of lending, said: “We’re thrilled to be able to introduce top slicing back into our lending criteria, this has proved extremely popular when previously available, and will undoubtedly make things easier for our landlords after a challenging period.
“We are always looking for ways to support our customers and being able to consider each case individually through our underwriting service means we can tailor our offering to the unique circumstances of individual landlords. These loans will directly benefit landlords with disposable income and small portfolios of rental properties, where rental income frequently falls short of repayment criteria.”
