Let to Buy Policy Quiz

What percentage do we apply to a customers mortgage if they make us aware that they are going to let the property out?

• Nothing

• 2%

• 1%

• 5%

What is the maximum LTV we allow on a LTB:BTL?

• 90%

• 75%

• 50%

• 70%

What stress test will we apply to a higher rate tax payer looking for a 2 year fixed rate on a LTB:BTL?

• loan x 125% x 7.94% / 12

• loan x 145% x 7.94% / 12

• loan x 125% x 6.04% / 12

• loan x 145% x 6.04% / 12

What is the maximum LTV for the LTB:Resi?

• 70%

• 75%

• 90%

• 95%

If we are doing the LTB:Resi, how do we treat the BTL in the background? (select 2)

• self financing

• loan x 135% x 6% / 12

• loan x 145% x 6% / 12

• loan x 125% x 6% / 12

Completion of the LTB:BTL and LTB:Resi MUST complete simultaneously

• True

• False

The customer must be buying a new house in order to do a LTB application with us

• True

• False

If the customers current residential is already with us, what do they need to apply for? Who can do this for them?

• Consent to Let (Broker)

• Consent to Let (customer)

• Additional borrowing (Customer)

• Additional borrowing (Broker)

What is the key thing to understand when dealing with a LTB scenario?

• if the LTB:BTL meets the stress test

• Which property is coming to us

• If the current residential is with us

• How much the customer has left on their mortgage

What is the minimum a customer can capital raise for on a LTB?

• £5k

• £25k

• £10k

• No minimum