Statements no At least 3 months Pay slips Yes P60 Yes Proof of residence Yes Life insurance No Previous lender References Yes Insurance building Conditional conditions for loans Min Loan 25.001 / Rmg 25.001 Max Loan 1.000.000 / Rmg 1.000.000 Max Portfolio of BTL Loans none Minimum age 25 years Max age 75 years Minimum duration 5 years Maximum duration 40 years PLEASE CHECK THE BTL CRITERIA BELOW BEFORE SUBMITTING AN APPLICATION: Applicants must currently own property in the UK; This must be validated before an offer can be made. If possible, we will use the credit reference search to validate the ownership of the property. If this information is not available via the credit information file or if the property is not cluttered, we may request: – A copy of the land certificate indicating at least the name of the applicant, or: – A copy of a mortgage decision recently issued in the last 3 months or: – A copy of a mortgage statement in the last 3 months that gave rise to the mortgage payment of the customer and the beneficiary Ehen Une Credit limit of 2,000,000 applies to all Buy To Let and Let to Buy Credits in the retail division of Lloyds Banking Group (Lloyds Banking Group`s retail division consists of Bank Of Scotland, Birmingham Midshires, C&G, TMB, Halifax, Intelligent Finance, Lloyds TSB, Lloyds TSB Scotland and Scottish Widows). A maximum of 3 properties applies to all Buy To Let and Let to Buy loans in the retail division of Lloyds Banking Group (the retail division of Lloyds Banking Group consists of Bank Of Scotland, Birmingham Midshires, C&G, TMB, Halifax, Intelligent Finance, Lloyds TSB, Lloyds TSB Scotland and Scottish Widows). Maximum loan for each 1 million buy to Let property. Confirmation of the expected rental income is provided by the expert as part of the assessment. The minimum acceptable value of the property or the purchase price (which is lower) is 40,000. The property can be rented in a single secure short-term rental agreement or to a company in a business rent. The maximum duration is 12 months. Our consent is not required to extend the lease. The maximum number of inmates is 5. They must all be parties to the agreement.
It is the owner`s responsibility to ensure that all laws are complied with, including (but not limited to) laws relating to rental deposit schemes and HMOs (multi-occupancy houses). The maximum number of bedrooms allowed for a buy-to-let property is 5. Several rentals (for which each tenant has signed a separate contract and/or separate facilities) are not acceptable. An application is processed unless that applicant exceeds the credit limit of 2,000,000 or the number of properties authorized or does not meet the minimum income requirement. The method of repayment of the interest rate element of the loan must be indicated. For rental companies with student rentals, the maximum number of tenants in a tenancy Assured Shorthold (AST) agreement is five in accordance with the current loan policy….