Minimum loan
The minimum loan is £30,000.
Maximum loan
The maximum loan is £750,000.
For loans over £500,000, we will ask to see a copy of the AST agreement and Selective license where applicable.
Total lending with Nottingham Building Society cannot exceed £1,500,000. Refer to portfolio section for more details. Please speak with your BDM to discuss multiple buy-to-let scenarios before submitting applications.
Maximum LTV for houses
The maximum LTV for houses is 75%. The maximum LTV is inclusive of fees.
Maximum LTV for flats
The maximum LTV for flats is 75%. The maximum LTV is inclusive of fees.
Minimum term
The minimum term is three years.
Maximum term
The maximum term is 35 years.
Repayment methods
Your client can apply for a mortgage on a wholly repayment, wholly interest-only or part repayment/part interest-only basis.
We do not need policies to be assigned to us for interest-only mortgages, but it is your client's responsibility to ensure they have a lump sum large enough at the end of the term to repay the capital they have borrowed.
Sale of mortgaged property is an acceptable repayment strategy.
Unacceptable loan purpose
Unacceptable loan purposes include:
- Properties where the applicant is buying in their personal name from their own limited company
- Regulated buy-to-let applications where the property is being let to a family member
- Sale and rent back scenarios and distressed sales, including remortgages where the original vendor is currently residing in the property
- Remortgage applications where the property has been owned for less than six months
- Speculative purposes
- Injection of business capital
- Making of gifts
- Repayment of unsecured business loans.