Hinckley & Rugby unveils BTL top-slicing product

The product is fixed at 4.99% for five years, at a maximum LTV of 70%. It includes a completion fee of 5%.

Hinckley & Rugby has designed the product given rental income can sometimes fail to meet minimum affordability criteria in the current environment.

Laura Sneddon, head of mortgage sales at Hinckley & Rugby, says the top-slicing of this product allows landlords to use personal disposable income to bridge any income shortfalls.

“Top-slicing is a flexible tool that helps incorporated landlords overcome the affordability hurdles presented by today’s challenging buy-to-let market,” she added.

“By factoring in a landlord’s overall income, we are providing a cushion that supports both the borrower and lender in feeling secure about the mortgage.”