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Low-earning landlord refinances new build onto BTL mortgage

Low-earning landlord refinances new build onto BTL mortgage

Summary: A broker approached us looking to place a case for his client - a full-time landlord earning less than £25k pa.


The client had recently completed the build of a five-bed detached house in Wiltshire. Having finished the works, she was now looking to refinance the property onto a buy to let mortgage.


The capital raised from the refinance would be used to repay the development loan and the client’s outstanding credit card balance.


Why Keystone?



✔  No minimum income
     Many lenders impose a minimum of £25k pa


  Rent as income
     Some lenders prefer landlords to earn income in addition to the rent


  New builds
    Not all lenders will lend on new build properties 


  SPV Ltd companies
     Keystone’s rates are priced the same whether borrowing is made personally, via an SPV or via a trading limited company


Broker proc fee£3,045 (0.7% of loan amount)



Property value: £800,000

Loan amount: £435,000

LTV: 55%

Rate: 3.44% 3 Year Fixed

Term: 15 years, interest only

RTI calculation: 125% @ 5.50%

Lender arrangement fee: 2% of loan amount (£8,700)

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