Hinckley and Rugby Building Society has announced updates to its product line and criteria, introducing new mortgage options for landlords and self-employed borrowers.
The building society is resuming buy-to-let lending with the re-launch of its 75% loan-to-value (LTV) 2-year discount product.
This option is designed for landlord borrowers with a smaller deposit, including first-time landlords, accidental landlords, and those looking to expand their property portfolios.
In addition, Hinckley and Rugby’s Income Flex products cater to self-employed borrowers by accepting a combination of any two non-standard incomes.
The building society addresses common criteria questions for self-employed applicants, stating that borrowers with a minimum of 12 months of self-employed income will be considered, subject to full underwriting.
Projections for the latest year can be used on Income Flex, up to 5.5x LTI, and the latest year’s self-employed figures can be used for affordability on Income Flex products.
