The rental yield must cover 125 per cent of the mortgage interest payment and is calculated on an interest only basis at BBR plus 1.19 per cent, which offers a lower rental income requirement than other products.
Buy-to-let investors can borrow up to £1 million per property with a maximum of 10 properties with the HBOS group.
Key selling features
- No early repayment charge
- First-time buyers accepted
- Low rental income requirements
- Available for purchases and remortgages
- Flexible features
Product details
- Funded by: BM Solutions
- Product: Buy-to-let – ZAA
- Rate: BBR plus 1.19 per cent for the term of the loan
- Initial pay rate: 5.69 per cent
- Max LTV: 75 per cent LTV up to £1 million
- Early repayment charges: None
- Rental Income Cover: 125 per cent of the mortgage interests payments, calculated at BBR plus 1.19 per cent
- Broker commission: 0.5 per cent (minimum £200, maximum £5,000)
- Arrangement fee: £499 – can be added to the loan
- Other: Available via packaged and direct route
