Family Regulated BTL Affordability Calculator

FOR INTERMEDIARY USE ONLY

Family Regulated Buy to Let Affordability Calculator

This calculator is to be used to check personal affordability for clients who require a mortgage on a property to be let to a member of their own family or where they intend to occupy the property themselves in the future. In addition to passing the affordability assessment, you will also need to check that the market rent achievable meets the ICR criteria using our Buy to Let Calculator

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Step 1. Application Details

Is the application in single or joint names?

Household Composition (where they live)

Property Postcode (where they live)

Move to Step 2 of 4

Step 2. Applicant Details

Applicant 1

Applicant 1 Name

Applicant 1 Date of Birth

Annual Gross Basic Salary Applicant 1

£

Annual Pension Income Applicant 1

£

Annual Regular Dividend Income (as a company director) Applicant 1

£

Does the applicant have any other income?

Please enter annual figures for applicant 1

Regular Overtime

£

Regular Bonus

£

Regular Shift Allowance

£

Guaranteed Overtime

£

Guaranteed Bonus

£

Guaranteed Shift Allowance

£

Commission

£

Car Allowance

£

Maintenance

£

Working Family Tax Credit

£

Net Profit

£

Dividends (where applicant is not a company director)

£

Rental Income (Mortgage Free Properties)

£

Income from a Second Job

£

Income from Trust Funds/Investments

£

Teachers Learning Responsibilities

£

Large Town Allowance

£

Housing Allowance (Police Officers)

£

Placement Income received by Foster Carers

£

Applicant 2

Applicant 2 Name

Applicant 2 Date of Birth

Annual Gross Basic Salary Applicant 2

£

Annual Pension Income Applicant 2

£

Annual Regular Dividend Income (as a company director) Applicant 2

£

Does the applicant have any other income?

Please enter annual figures for applicant 2

Regular Overtime

£

Regular Bonus

£

Regular Shift Allowance

£

Guaranteed Overtime

£

Guaranteed Bonus

£

Guaranteed Shift Allowance

£

Commission

£

Car Allowance

£

Maintenance

£

Working Family Tax Credit

£

Net Profit

£

Dividends (where applicant is not a company director)

£

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Rental Income (Mortgage Free Properties)

£

Income from a Second Job

£

Income from Trust Funds/Investments

£

Teachers Learning Responsibilities

£

Large Town Allowance

£

Housing Allowance (Police Officers)

£

Placement Income received by Foster Carers

£

Move to Step 3 of 4

Step 3. Loan Details

Click here to view our current product range

Is the product fixed for at least 5 years?

Loan Amount – Capital and Interest

£

Loan Amount – Interest Only

£

Is this a like for like Remortgage?
(i.e. The property is currently a BTL and there is no increase in loan amount and no changes to term, repayment method or parties to the mortgage)

Loan Term

(Years)

(Months)

Move to final step

Step 4. Monthly Commitments

Financial Commitments - please input monthly payment unless stated otherwise

Secured Loans (excluding other mortgages)

£

Unsecured Loans

£

Total amount outstanding on Credit Cards

£

Total amount outstanding on Mail Order/Store Cards

£

Total amount outstanding on Overdrafts

£

Student Loans

£

Tuition Fees (Private School)

£

Maintenance/Child Support

£

Childcare Vouchers

£

Other Childcare Costs

£

Help to Buy Equity Loan Balance

£

Rent Payment on Applicants Residential Property

£

Monthly Payment on Applicants Residential Mortgage

£

Mortgage Repayment Strategy (to support the repayment of an interest only mortgage)

£

Service Charge

£

Ground Rent

£

Life Cover Premiums

£

Does any applicant pay into a Pension?

Pension Contribution

£

Other Items of Committed Expenditure

£

The above Affordability decision has been made based upon the input information. Any application submitted to the Society will require validation of figures, confirmation of above reference number and compliance with Society Lending Policy

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