Newbury launches BTL affordability calculator

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Newbury Building Society has launched a buy-to-let affordability calculator which works with the new stress rate and takes into account top-slicing.

The Society’s standard buy-to-let calculation uses rental coverage of 135 per cent at an interest rate of 5.5 per cent, down from 5.99 per cent.

It can also consider other income to support the application.

Newbury Building Society lending manager Roger Knight says: “Our buy-to-let calculator quickly informs the broker if their client is suitable or not.

“It will also help with top-slicing calculations for not only standard buy-to-let, but can also help with any regulated, consumer, ex-pat and limited company applications.”

 

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