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Buy to letproduct guideJune 2022FOR INTERMEDIARIES ONLY
Contents2The clients we support3Our latest buy to let mortgage products4Buy to let affordability criteria5Valuation fee scale7Contact us8Terms and conditions9FOR INTERMEDIARIES ONLY
3Here to help, whatever the caseWe know that every buy to let case is different and while some lendersmay not be able to help, we see the potential. Our strength lies in ourflexible, common-sense approach with a willingness to consider casesthat fall outside of standard criteria.Here’s just a few examples of the types of clients we can help along with some of our typical criteria.Personal ownership landlordsFirst-time landlordsLimited company landlords We accept consumer buy to letapplications We accept HMO applications forproperties with up to six bedrooms We accept intercompany loans, shareholderdeposits and director loans as deposits We don’t require experienced landlords tohave their own residential property Loans available with just a 20% deposit tohelp aspiring landlords buy their first HMO We don’t apply specific SIC coderequirements and we accept newly formedSPVs and LLPsPortfolio landlordsHMO/MUFB landlords We don’t set limits on the size or value ofexisting portfolios held with other lenders We’ll consider properties with up toten bedrooms or units There’s no limit on the number or value ofproperties mortgaged with us Applications with multiple units on a singlefreehold are acceptedFOR INTERMEDIARIES ONLYOur business development managers areempowered to help you, so even if a casedoesn’t fit our standard criteria, they’ll workwith you to provide a tailored solution.Keep reading to find out more about ourlatest products.
4Our latest buy to letmortgage productsOur buy to let range features products to suit any property type,making it easier for you to place your cases.Key features of our product range 0Rates from3.59%FOR INTERMEDIARIES ONLYUp to85% LTV 0 product feeoptions availableMinimum loan 100,000No maximum loan amounton selected products 75,000 minimumproperty value
5LTVProduct2-year fixed80%5-year fixed2-year fixed85%5-year 0%4.94% 03.99%2.50%4.49%1.50%4.69%2.50%4.89%1.50%5.19% 0Reversion rateERCsLoan amounts7.33%4%, 3% 100,000 minimum loan No maximum loan7.33%5%, 4%, 3%, 3%, 3% 100,000 minimum loan No maximum loan 100,000 minimum loan 500,000 maximum loan7.33%4%, 3%7.33%5%, 4%, 3%, 3%, 3% 100,000 minimum loan No maximum loan 100,000 minimum loan No maximum loan 100,000 minimum loan 500,000 maximum loanAssessment rateProduct code5.50%01806 KBTL22035.64%01807 KBTL22034.44%01934 KBTL22064.64%01935 KBTL22064.94%01936 KBTL22065.54%01811 KBTL22036.04%01812 KBTL22034.69%01813 KBTL22034.89%01814 KBTL22035.19%01815 KBTL2203Acceptable credit profileCCJsDefaultSecuredarrears0 in 36*0 in 36*0 in 12UnsecuredarrearsNot counted†Whilst unsecured arrears are not counted, we reserve the right toconsider on a case by case basis as part of the full underwrite.† FOR INTERMEDIARIES ONLY*The restrictions may not apply where one of the following applies: All CCJs/defaults were registered more than three years ago and satisfied prior to mortgage application All CCJs/defaults were satisfied more than 12 months prior to application regardless of date of registration All CCJs/defaults in aggregate amount to less than 300, regardless of date of registration, and satisfied prior to mortgage application
Buy to let affordability criteriaMinimum rental cover stress rate6Rental cover - what you need to knowPropertyprofileVariable, one, two and three-year fixedThe higher of.Initial pay rate 1.55%or 5.50%Single dwellingsHMOs, MUFBs and student lets with upto six rooms or unitsFreehold block of up to six self-contained flatsHMOs, MUFBs and student lets with sevento ten rooms or unitsFreehold block of seven to ten self-contained flatsMultiple houses on a single freehold titleLimitedcompanyor personalownershipLimitedcompanyor personalownershipFive-year fixedInitial pay rateRemortgages with no additional borrowing(excluding refinancing from bridging or commercial loans)LTDInitial pay rate 1.05%Limited companyLTDPersonal ownershipLimited companyPersonal ownershipNo minimum stress rate appliesFor affordability purposes, the loan will beassessed inclusive of any and all fees added tothe loan. This is reflected in the output of the buyto let calculator on our website.FOR INTERMEDIARIES ONLY125%140%145%160%Rental coverRental coverRental coverRental cover
Valuation fee scale7The valuation fee is payable at the time of application and is non-refundable once valuation has been undertaken.Standard buy to let Single dwellingsSpecialist buy to let HMO/student/multi-let with up to and including six lettable rooms/units Freehold block of up to and including six self-contained flatsComplex buy to let HMO/student/multi-let with seven to ten lettable rooms/units Freehold block with seven to ten self-contained flats Multiple houses on a single freehold titleProperty valuesStandardbuy to letSpecialistbuy to letComplexbuy to letProperty valuesStandardbuy to letSpecialistbuy to letComplexbuy to let 75,000 - 100,000 150 440 850 1,250,001 - 1,500,000 1,225 1,425 2,350 100,001 - 150,000 175 440 850 1,500,001 - 1,750,000 1,625 1,825 2,500 150,001 - 200,000 200 455 850 1,750,001 - 2,000,000 1,625 1,825 2,700 200,001 - 250,000 225 455 925 2,000,001 - 2,500,000 1,925 2,325 3,000 250,001 - 300,000 250 525 1,000 2,500,001 - 2,750,000 2,225 2,625 3,300 300,001 - 350,000 275 585 1,125 2,750,001 - 3,000,000 2,225 2,625 3,675 350,001 - 400,000 300 585 1,125 3,000,001 - 3,250,000 2,725 3,125 3,900 400,001 - 450,000 325 645 1,250 3,250,001 - 3,500,000 2,725 3,125 4,200 450,001 - 500,000 350 645 1,250 3,500,001 - 3,750,000 3,125 3,525 4,450 500,001 - 600,000 485 710 1,350 3,750,001 - 4,000,000 3,125 3,525 4,750 600,001 - 700,000 585 770 1,500 4,000,001 - 4,250,000 3,425 3,825 5,000 700,001 - 800,000 650 880 1,600 4,250,001 - 4,500,000 3,425 3,825 5,500 800,001 - 900,000 710 995 1,700 4,500,001 - 5,000,000 3,725 4,125 6,000 900,001 - 1,000,000 825 1,025 1,800 5,000,001 and aboveBespoke quoteBespoke quoteBespoke quote 1,000,001 - 1,250,000 1,225 1,425 2,100Guidance provided surrounding physical property valuationsPhysical valuations for residential and buy to let properties shall continue, and will be conducted by our valuers Connells via the usual process, in a COVID-safe manner.Please note: Connells have issued clear guidance surrounding property inspections. If this guidance isn’t adhered to, surveyors could choose not to proceed with a valuation, but still charge a fee for a visit.Personal nameFOR INTERMEDIARIES ONLY
8Contact usIf a case has you scratching your head it’s often easier to speak tosomebody, that’s why we’ve made it as easy as possible for you to get intouch with us.Speak to your local business development manager, go to krfi.co.uk touse Live Chat or call our broker liaison team on 01634 835791.Alan KimberAmanda LammersHelen CombenHead of SalesBusiness Development ManagerBusiness Development Manageralan.kimber@osb.co.uk07552 821759amanda.lammers@osb.co.uk07710 032046helen.comben@osb.co.ukMelanie MerchantNick O’LearyPeter CoombesBusiness Development ManagerBusiness Development ManagerBusiness Development Manager07548 239353melanie.merchant@osb.co.uk07540 157700nick.oleary@osb.co.ukHayley EvansZouhair MihramaneBusiness Development ManagerBusiness Development Manager07393 145810hayley.evans@osb.co.uk07827 820470pete.coombes@osb.co.uk07385 938749zouhair.mihramane@osb.co.ukContinued on next pageFOR INTERMEDIARIES ONLY
9Contact usIf a case has you scratching your head it’s often easier to speak tosomebody, that’s why we’ve made it as easy as possible for you to get intouch with us.Speak to your local business development manager, go to krfi.co.uk touse Live Chat or call our broker liaison team on 01634 835791.James ForthClaire AstonKate WellandHead of SalesBusiness Development ManagerBusiness Development Manager07769 282302claire.aston@osb.co.uk07753 ichael WalshCharlotte ParkerSarah HopkinsBusiness Development ManagerBusiness Development ManagerBusiness Development Manager07584 619582michael.walsh@osb.co.uk07584 777934charlotte.parker@osb.co.ukGareth HeywoodSusan BaillieBusiness Development ManagerBusiness Development Manager07867 448975gareth.heywood@osb.co.ukFOR INTERMEDIARIES ONLY07548 239401susan.baillie@osb.co.uk07393 145787sarah.hopkins@osb.co.uk
Terms and conditions These products are available on repayment or interest-only terms. At the end of any initial deal, the interest rate will revert to the buy to let variable rate. The buy to let variable rate can vary in line with the general level of interest rates andeconomic conditions. If your client makes any lump-sum payments or repays the loan within a special dealperiod, an early repayment charge may be payable. Please refer to the early repaymentcharge section of the table for details. Overpayments up to a maximum of 499.99 permonth can be made without incurring an early repayment charge.10 Interest is charged daily based on the balance outstanding at the close of businesseach day. Payments in excess of the required monthly repayment will have the effect ofreducing the balance outstanding and the amount of interest charged. The ESIS and Offerdocuments will set out the daily interest calculation as well as the impact overpaymentswill have on any early repayment charge. These mortgage products are not portable. All mortgage products are subject to availability of funds and can be withdrawn at any time. Consumer buy to let mortgages are regulated by the Mortgage Credit Directive Order 2015. Non-consumer buy to let loans are not regulated. A list of our fees and charges accompanies all mortgage illustrations. ERC percentage based on the remaining capital balance. The minimum mortgage term is five years and the maximum is 35 years. Income supported buy to let applications are considered. If your client wishes to change to a different mortgage product after a mortgage offer hasbeen issued, an administration charge of 30 to amend the mortgage offer will apply. No first-time landlords on seven to ten bedrooms/units. No holiday lets.The buy to let variable rate is 7.33%. Application fee 145 payable at time of application. This is to cover assessing and processing the application (even if the application isunsuccessful or is withdrawn). Please note that applications will not be processed until this fee is received. All our products are subject to availability and may be withdrawn atany time. ERCs may be incurred for full redemption or repayment of capital.For interest only or part repayment/part interest only, it’s your client’s responsibility to ensure they have sufficient funds available at the end of the term with which to repay the loan. All loansare subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged 18 or over. Maximum age at the end of the mortgage term is 85.Written quotations are available on request.OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504).AS A LAST RESORT YOUR CLIENT’S HOME MAY BE REPOSSESSED IF THEY DO NOT KEEP UP PAYMENTS ON THEIR MORTGAGEFOR INTERMEDIARIES ONLYkrbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896).Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by theFinancial Conduct Authority and the Prudential Regulation Authority (registered number 530504).033/KRFI/MKT001487-014
use Live Chat or call our broker liaison team on 01634 835791. FOR INTERMEDIARIES ONLY Melanie Merchant Business Development Manager 07548 239353 melanie.merchant@osb.co.uk Helen Comben Business Development Manager 07710 032046 helen.comben@osb.co.uk Hayley Evans Business Development Manager 07393 145810 hayley.evans@osb.co.uk Amanda Lammers
