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Cambridge enhances buy to let criteria with re-introduction of top slicing

The Cambridge Building Society has re-introduced top slicing on its standard Buy to Let range up to 80 per cent LTV.

This announcement from The Cambridge enables experienced landlords who have a shortfall on their required lending, to use a percentage of their earned income when the Buy to Let property rental income is insufficient.

In addition, in cases where a five Year Fixed Rate is chosen, the payrate is used in the rental calculation together with a rental coverage ratio of 140 per cent.

First time landlords will also be considered, and this feature has now been expanded to BTL Ex-Pat’s, who have a Residential property but want to buy their first Buy to Let or Holiday Let. 

All countries and currencies can be considered, up to 75 per cent loan to value, providing the country is not on the UK Government Financial Sanctions list.

Kathy Bowes, Intermediary Manager says: “We continue to listen to our intermediary partners and understand the difficulties that can occur in trying to find a suitable lender to submit a Buy to Let case with. We hope that these criteria enhancements will help to offer more choice within the Buy to Let marketplace”.

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