24 July 2017
With immediate effect, your BTL customers could remortgage to the Coventry for intermediaries with a reference rate of 5%, providing there’s no additional borrowing.
It’s designed to give buy to let customers more choice and it’s based on the following:
*Gross annual income includes all income received, i.e. all gross rental income from existing properties and the new BTL property, plus any other earned or unearned gross income.
The Coventry for intermediaries will soon be announcing their approach to BTL portfolio lending in response to the new underwriting guidelines – so there’s more to come.