Skipton International offer more to high net worths
Skipton International has announced an enhancement to its mortgage criteria, allowing resident buy-to-let investors to potentially achieve greater levels of borrowing against their rental yields.
The leading UK buy-to-let mortgage lender for overseas residents will be offering a reduced interest coverage ratio of 110% (compared to the standard 125%) to customers earning over £100,000 pa and looking to borrow over £500,000.
To qualify, the client’s sole income (or main earner if joint application) must be equivalent to at least £100,000 and the mortgage must exceed £500,000.
Roger Hughes, Skipton international’s business development manager, said “We are always looking at opportunities to develop our mortgage proposition and make it more attractive. This change will allow high net worth individual’s to borrow more funds to either purchase a new property or remortgage an existing one”.
