BTL mortgage - relaxed affordability criteria

[bigbaddom]

Hi,

I was wondering if anyone knew which mortgage lenders were more relaxed with their affordability criteria.

The yield isn’t great tbh and based on the affordability criteria I can only get a 40% loan to value mortgage.

I already own the property and would like to keep it for other reasons.

I thought that if a 5 or 10 year fix was used then the affordability criteria didn’t have to be used, but I can’t find a lender that doesn’t use them anyway.

Any ideas?

Thanks
Dom

[Sarnie]

What exactly do you mean by "affordability"?

Do you mean your personal income and circumstances?

Or the stress tests used by lenders?

There aren't any lenders who won't use either or both of the above because you are taking a five year rate

There are lender who will lower the stress rate for longer term fixed rates and there are lenders who will allow higher loan amounts if you have adequate spare income they can top slice from, but it all depends on your circumstances as a whole.....

[ferrisbueller]

If they're more lenient on affordability they'll likely charge bigger fees and higher rates. Swings and roundabouts.