What criteria applies to your Premier products?
Applies to Premier products only
- Available to Individuals and Limited Companies SPV only
- Max 15 mortgaged BTL properties in portfolio
- Max exposure - £5M – please refer when over £2M
- Property must be let on an AST of maximum 3 years
- Applicants must individually own 75% or more of company shares (voting shares)
- Any shareholder with under 25% holding must be an immediate family member of the directors
- No LLPs
- No layered limited companies
- Maximum age at end of term – 85
- Deposits must originate in the UK
- Directors' loans can be considered
- Intercompany loans are acceptable
- Premier Small HMO products will be subject to valuation based on market value with vacant possession, which takes into account alternative uses including as a single dwelling house but subject to likely local planning and HMO regulation constraints, assuming a 180 day marketing period.