06 March 2017
From Tuesday 7 March Cambridge BTL income coverage ratio will increase from 125% to 140%.
Gross rental income from the property must be at least 140% of the required mortgage payment when calculated on an interest only basis at a stressed rate of 5.50%.
For like for like remortgages where no additional funds are being requested interest cover will remain at 125% at a stressed rate of 5.50%.
DIPs submitted by close of business Monday 6 March will continue to be assessed at 125%.
For details of all lenders current BTL criteria take a look at our Matrix here.