Product and Credit Criteria
Buy to Let Credit History
| Criteria | Prime | Core |
| Ranges | Buy to Let – including Limited Company, HMO/MUB, eKo | Buy to Let- including Limited Company, HMO/MUB, Tracker |
| Minimum property value | £75,000 | £75,000 |
| Defaults acceptable (if older than) | 36 months | 24 months |
| Secured loan/rent missed payments acceptable (if older than) | 36 months | 24 months |
| CCJs (unsatisfied CCJ’s will be accepted at the underwriters discretion) | 72 months | 24 months |
| Unsecured credit arrears acceptable if accounts now up to date | None in last 12 months | Max status of 2 in last 12 months |
| Debt management plans (DMPs) acceptable with a track record of | Cannot actively be in a DMP, must have been closed over 12 months ago | 12 months |
| No payday loans, taken out within the last | 12 months and cannot actively be in a payday loan | 12 months |
Important bankruptcy update: We can accept customers that have not been, in the last 6 years, subject to proceedings for Bankruptcy/ Sequestration or an Individual Voluntary Arrangement (IVA)/ Protected Trust Deed, Debt Arrangement Scheme (DAS) and/or Debt Relief Order (DRO) and must be satisfied/discharged and no longer showing on credit bureau.
Communication/Insurance/Bank Account and utility defaults:BTL Core: We don't take into account Communication/ Insurance defaults. Utility defaults up to a combined £250 can be ignored. Bank Account defaults/arrears subject to underwriter discretion.
BTL Prime: We don't take into account Communication/ Insurance defaults. Utility defaults up to a combined £250 can be ignored. However, if any default in respect of Communication/Insurance/Utility have resulted in unauthorised overdrafts or bounced DDM/Cheques on the Bank Account the case will be declined. Bank account defaults/arrears will not be accepted.
For full details of our credit history, view our Credit History Guide.