BTL income for re-mortgage

[Slange]

Have a BTL on 2-yr btl mortgage which is due for renewal in June next year. Due to covid times my tennants and I agreed to reduce their rental income by 25% but its now back up to 90% of the original figure. They have been long term renters, no issues, they even painted the entire house at their effort with me supplying paint.

When it comes to mortgage renewal time, what rental calc will the bank perform to ensure borrowing is still ok? Previously this hasn't been an issue however I don't know how close my rental income return may have been to their requirements. The 25% reduction for 6 months may make me fail their test? Specifically the borrowing amount is 133k with hsbc on 2yr btl fix

thanks for any help..
sl

[Sarnie]

It will be calculated on the lower of the rental market value or what you have actually been receiving into your bank as per the tenancy agreement you have with the tenants.

[Caddyshack]

But, depending on lender most of them will have a set of retention rates to simply pick a new deal with zero underwriting and no rental stress test and they will work off their own indexed valuation so you may not need to change lender at all. Many only go through brokers for this so send me a message if you need any help…or Sarnie above.