Limited Company Buy To Let

Our Limited Company Buy to Let products are available to first time and existing landlords operating via a limited company to purchase or re-mortgage a property, with newly registered limited companies accepted.

Who is this product suitable for?

• Landlords must be operating via a Limited Company
• First Time Buyers
• First Time Landlords
• Existing landlords looking to purchase a new property or remortgage an existing property
• Portfolio Landlords

Loan, Fee & Product Details

• Interest only or repayment
• Maximum loan size £3,000,000. Loans over this are priced on a bespoke basis and have restricted LTVs
• For portfolio landlords the maximum LTV INCLUDING fees is 75%
• Maximum Portfolio with Saffron of £3m (no external exposure limit)
• Personal Guarantees for total borrowing (inclusive of fees) taken from all Directors for applications exceeding 55% LTV

Applicant Criteria

• Maximum of 4 Directors – individual credit checks will be undertaken
• All Shareholders in the Company must be named as Directors
• Any proposed changes to Directors during life of mortgage must be subject to our approval
• Details of all properties each Director has an ownership in (either in own name or a business name) must be provided
• Limited Companies registered in the UK only
• No time limit as to how long registered i.e. new SPV’s allowed
• Company must be set up with the principal activity of buying and holding residential investment property and used for that purpose only in line with the appropriate SIC Code
• Certificate of Incorporation to be provided
•  Latest set of accounts to be provided (where the company has been set up for more than 18 months)
• Regulated or Consumer buy to let not accepted
• HMO not accepted on this range. Please see our dedicated HMO pages for details

Affordability and Income Criteria

• 2 Year fixed rates: Rental cover 125% of either pay rate +2% or 5.5% whichever is higher
• 5 year fixed rates: Rental Cover 125% of pay rate
• Rental Cover on debt for debt re-mortgage cases 125% of pay rate
• No minimum income for experienced landlords (minimum of 12 months experience)
• If the borrowers are inexperienced landlords, at least one applicant must meet the minimum income requirement of £25,000

Property Requirements

• Property must be let on an AST
• Rental assessment is based on occupation by one family on an unfurnished let
• Minimum energy performance rating of E on an Energy Performance Certificate (EPC)
• No HMOs or Limited Companies accepted on this range. Please see our dedicated HMO and Limited Company pages for details.