"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"
- Laura Sneddon - Hinckley & Rugby Building Society
Hinckley & Rugby for Intermediaries has announced that it has launched a new Visa buy-to-let mortgage range, with starting rates of 5.79%. The lender has also expanded its visa lending criteria for both residential and buy-to-let propositions.
According to the lender, the new range is designed to help skilled professionals, entrepreneurs, and investors on visas to purchase or refinance property in the UK.
The new Visa Buy-to-Let range comprises a 2-Year discount buy-to-let (75% LTV) with a rate of 5.79%, a 2-Year fixed buy-to-let (75% LTV) with a rate of 6.10%, and a 5-Year fixed buy-to-let (75% LTV) with a rate of 5.99%.
The products offer ICR calculations of 125% for basic rate taxpayers and 145% for higher and additional rate taxpayers. All products are for both purchase and remortgage with loan sizes ranging from £100,000 to £1.5m. There is no minimum UK residency requirement and a manual underwriting process that considers each case individually.
The Society has expanded its visa eligibility to include Global Talent and Ancestry visa holders, helping young professionals secure their first home while enabling high-earning individuals to grow their UK property portfolios.
“At Hinckley & Rugby, we understand the growing demand for tailored mortgage solutions among professionals relocating to the UK," comments Laura Sneddon (pictured), Head of Mortgage Sales & Distribution at Hinckley & Rugby, "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.”
