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 APT
- 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.