The Cambridge reintroduces buy-to-let top slicing

The Cambridge Building Society has re-introduced top slicing on its standard buy-to-let range up to 80% LTV.

The change enables experienced landlords who have a shortfall on their required lending to use a percentage of their earned income when the buy-to-let property rental income is insufficient.

In addition, in cases where a five-year fixed rate is chosen, the payrate is used in the rental calculation together with a rental coverage ratio of 140%.

First-time landlords will also be considered, and this feature has now been expanded to expats who have a residential property but want to buy their first buy-to-let or holiday let.

All countries and currencies can be considered, up to 75% LTV, providing the country is not on the UK Government Financial Sanctions list.

Kathy Bowes, intermediary manager at The Cambridge, said: “We continue to listen to our intermediary partners and understand the difficulties that can occur in trying to find a suitable lender to submit a buy-to-let case with. We hope that these criteria enhancements will help to offer more choice within the buy-to-let marketplace.”