Hinckley & Rugby for Intermediaries has launched a visa buy-to-let range, offering rates from 5.79%, as well as relaxing its criteria in this area for residential and landlord borrowers.
The mutual says the visa property investor range covers:
- Two-year discount BTL at 75% loan to value with a 5.79% rate
- Two-year BTL fixes at 75% LTV with a 6.10% rate
- Five-year BTL fixes at 75% LTV with a 5.99% rate
The products offer interest coverage ratio calculations at 125% for basic rate taxpayers and 145% for higher and additional rate taxpayers. All deals are for purchase and remortgage with loan sizes between £100,000 to £1.5m.
The society has also expanded its visa eligibility to include global talent and ancestry visa holders to, “help young professionals secure their first home while enabling high-earning individuals to grow their UK property portfolios”.
Hinckley & Rugby head of mortgage sales & distribution Laura Sneddon says: “We understand the growing demand for tailored mortgage solutions among professionals relocating to the UK.
“By expanding our visa lending criteria and launching our new visa BTL range, we are making it easier for brokers to place cases and support clients looking to invest in the UK property market.”
