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Calculators

  • *NEW* Rental Income Calculator - Calculate the maximum amount of capital your customer(s) can borrow to purchase or remortgage their property.
  • *NEW* Portfolio Calculator - Check that your customers existing portfolio and new application fits against our Portfolio Landlord criteria.
  • Rate Change Calculator - Find out how your customer's mortgage repayments will be affected by a change in the Bank on England base rate.

HOW WE MAKE OUR CALCULATIONS

  • A maximum 75% LTV for loans from £25,001 to £1,000,000.
  • A maximum 65% LTV for loans from £1,000,000 to £2,0000,000. EPC rating of the property must be A, B or C.

Visit our criteria page to find out more.

Use the below tables to establish the correct stress rate and rental cover ratio (RCR) to calculate the maximum borrowing available.

Purchase, Let to Buy, Remortgage with capital raising and Further Advances*
Product Type Stress Rates (higher of)
2 year fixed or tracker 5.5% or pay rate + 2%
5 year fixed 5% or pay rate +0.5%

* For further advances to qualify for 5 year stress rates the total loan, including all existing balances, must be fixed for 5 years or more at point of application.


Like for Like Remortgage (BTL/LTB)
Product Type Stress Rates (higher of)
2 year fixed or tracker 5.5% or pay rate + 0.5%
5 year fixed 5% or pay rate + 0.5%

Applicants Tax Band RCR
All applicants are basic rate tax payers** 125%
One or more applicants are higher/additional rate tax payers** 145%

** Higher/Additional rate tax payers are customers whose total earned income plus 80% share of the gross rental income for all properties that the applicant will own on completion exceeds £50,271 pa (£43,663 pa in Scotland).

Calculations

Annual rent ÷ Stress rate % ÷ RCR % = Max available loan including any products fees added.

Portfolio Calculations

If the application is for a Portfolio Landlord, the total portfolio (including the subject property) must achieve a minimum rental cover of 145% stressed at 5.5% and be no more than 75% LTV. (Minimum joint income of £30,000 pa).

Please see our Portfolio Landlord Criteria page for further information.

Total portfolio annual rent ÷ total portfolio mortgage balance ÷ 5.5% x 100 = Portfolio RCR.

Total portfolio mortgage balance ÷ total portfolio property value = Portfolio LTV.

For the use of mortgage intermediaries & other professionals only

If you do not have professional experience, you should not rely on the information contained on this site. If you are a professional and you reproduce any part of the information contained on this site, to be used with or to advise private clients, you must ensure it conforms to the Financial Conduct Authority's advising and selling rules.

These pages are for the use of those people who are resident and ordinarily resident in the UK and should not be regarded as an offer or invitation to sell Mortgage products in any jurisdiction other than the UK.

Birmingham Midshires is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered office; The Mound, Edinburgh, EH1 1YZ

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 169628. Telephone number 0345 850 5000. Telephone calls may be monitored or recorded.

House Purchase
Remortgage
First Time Buyer
Existing Mortgage Customers only
Available for further borrowing
Further Borrowing only
Only available with BM Conveyancing
Calculate Borrowing
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