Buy-to-Let Mortgages for Visa Holders: What You Need to Know
Hinckley and Rugby Building Society has introduced an exciting new Visa Buy-to-Let mortgage range, designed to support skilled professionals, entrepreneurs, as well as investors who are on visas looking to purchase or refinance property in the UK.
Key Features of the Visa Buy-to-Let Mortgage Range
The new range along with flexible criteria offer competitive interest rates which include fixed rates for both 2 and 5 years along with discounted options.
Products are available for both purchase and remortgage, with loan sizes ranging from £100,000 - £1.5 million with a maximum 75% Loan To Value.
Flexible Lending Criteria
One of the standout features of this new mortgage range is its competitive Interest Coverage Ratio (ICR) calculations, set at 125% for basic rate taxpayers and 145% for higher and additional rate taxpayers.
Additionally, there is no minimum UK residency requirement, and the Society’s manual underwriting process allows for individual case assessments, giving brokers lots of flexibility in securing mortgage for their clients.
Expanded Visa Eligibility
The Society has also broadened its eligibility criteria to include Global Talent and Ancestry visa holders. Notably, there are no requirements for minimum UK residency, income threshold, or remaining time on the visa, as long as applicants intend to seek an extension if less than six months remain. A one-year employment track record is required, and joint applications are accepted, including those where a partner holds a spousal visa.
Broker-Led Product Development
Laura Sneddon, Head of Mortgage Sales & Distribution, highlighted the importance of this new offering:
“At Hinckley & Rugby, we understand the growing demand for tailored mortgage solutions among professionals relocating to the UK. By expanding our visa lending criteria and launching our new Visa Buy-to-Let range, we are making it easier for brokers to place cases and support clients looking to invest in the UK property market.”
“Brokers have been instrumental in shaping this offering through our Voice of the Broker forums, and we are proud to deliver solutions that directly address their requirements.”
Importance of Expert Guidance
Given the ever-changing market conditions, seeking the assistance of a mortgage consultant is more important than ever. With their expertise, you can navigate these fluctuations effectively and find the best possible mortgage options tailored to your needs.
Our experienced mortgage consultants are ready to assist you with personalised guidance every step of the way. For an initial consultation, speak with our experts or call us at 01628 564631. We're here to help you navigate your mortgage journey with informed advice and care.
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage.
Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority
Source: Hinckley & Rugby for Intermediaries
