Hinckley & Rugby Building Society has launched a buy-to-let five-year fixed rate at 4.99%.

The deal has been designed specifically for limited companies and allows top slicing.

This product has a maximum loan to value (LTV) of 70% and comes with a completion fee of 5%.

MINIMUM AFFORDABILITY SOLUTION

The top-slicing allows landlords to use personal disposable income to bridge any rental income shortfalls.

The mutual considers the landlord’s wider financial picture, including earnings from other properties, investments, and business interests, to ‘top up’ the rental income and meet the mortgage affordability requirements.

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

Laura Sneddon, head of mortgage sales at Hinckley & Rugby, said: “Top-slicing is a flexible tool that helps incorporated landlords overcome the affordability hurdles presented by today’s challenging buy-to-let market.

“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.”