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Buy to let mortgage for first-time landlord living abroad

Buy to let mortgage for first-time landlord living abroad

Summary: College friends with no buy to let experience looking to purchase their first rental property. The property in question is a five-bed terraced house in Newcastle, which will be let to housing association tenants.

One applicant is self-employed living in Dubai, the other is an unemployed student living in the UK – this applicant owns their own home outright.

The applicants do not earn the £25k pa minimum required by most lenders.

 

Why Keystone:

 No minimum income requirement

 Housing association tenants accepted

 Expats accepted via an SPV limited companies

✔ Same pricing offered to individuals, SPVs and trading limited companies

 First-time landlords accepted

 

Broker proc fee: £1,540 (0.7% of loan amount)

 


Terms Offered


Property value:  £343,000

Loan amount:  £220,000

LTV:  64%

Rate:  3.39 % 2 Year Fixed

Term: 25 years interest only

Lender arrangement fee: 2% (£4,400)

RTI calculation: 125% @ 5.5%


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