All calculations will be based on either the current reference rate published on our website, or the product charging rate plus 2%, whichever is the greater.
The affordability of the application will be assessed as follows:
- For individual and joint applicants, and for limited liability partnerships (LLPs) with expatriate members, the gross rental income should be equal to, or exceed, the Interest Coverage Ratio (ICR) of 140%
- For limited company applications, the gross rental income should be equal to, or exceed, the ICR of 130%
Applicant type |
Single self-contained units |
Expatriate applicants and LLP’s with expatriate members |
140% |
Limited company with expatriate directors |
130% |