Source used for this article: 1.www.santander.co.uk/assets/s3fs-public/2018-09/Customer%20Identification%20Requirements.pdf `Source checked on December 27, 2018 Where the customer owns less then 100% of the property, with the remaining share being owned by a third party, our LTV restrictions apply to the value of the share owned by the customer. The shared ownership agreement must allow 100% possession stair supplements. Bank Statements NoAt Least 3 Months Pay Slips NoP60 NoProof Of Residency YesLife Policy To Be Assigned NoPrevious Lender References NoInsurance Buildings Conditional Conditions On Loan Min Loan /Rmg 25,000Max Loan /Rmg 750,000Max Portfolio of BTL Loans 3,750,000Min Age 21 yearsMax Age 75 yearsMin Term 5 yearsMax Term 25 yearsAddress History: At least 3 years history is. Term of credit:Minimum term 5 years Maximum term 25 years The starting age is 70.Types of rental: Guaranteed short-term rental contract (minimum 6 months, maximum 12 months) The student rents only with an AST. Maximum of three tenants per tenancy agreementAs a tenancy agreement per property. If the property for which the loan is claimed, an applicant may have a portfolio of 7 BTL after closing. The applicant`s portfolio must not have mortgaged more than 5 properties with Santander UK at the time of completion of the mortgage application. Proof of Independent Income Requirements: Taxable income is calculated on the basis of the latest SA302 accounts or accounts signed by properly qualified accountants (the last year end must not be more than 18 months). The owners accepted the deposits, but not the sellers. Foreign citizens acceptEx-Patriates Not accepted IncomeMultiplicatorsMiet income must be 125% of monthly mortgage payments if calculated with a rate of 5%. Month min in the current pasmin month position in the permanent service pasmin no.
annual accounts 2 Average years that are taken into account for the calculation of income 1In case of decrease in the profit YesOutgoingsThe property receipts at least equal to or equal to 125% of the product rate, RV or 5%, depending on the repayment method is higherCredit History:Landlord must be solvent and have a good balance sheet as evidence of a good credit rating and minimum adverse data with the credit agencyThe renters should not be transferred to other secured and unsecured loans Active history of credit to include housing mortgages or at least one applicant if, jointly, (salary or self-employed) of 25k per year (excluding rental income), if the applicant has no more than 4 secured credit commitments on request or if the applicant`s BTL portfolio will not exceed 4 properties after the application closes.