Approval in principle calculators
Spreadsheets providing full borrowing amounts and repayments
Key criteria
Expats and Overseas Residents remortgaging or purchasing Buy-To-Let properties in England, Wales or the Scottish mainland.
Key criteria
The application can be emailed or couriered to our office. Please note, as the application is for non-UK residents the documentation requirements may be more extensive than for similar applications for UK residents to other banks. Any incomplete applications WILL BE returned and not reviewed as the underwriting process in such cases cannot be undertaken. Please see packaging guidelines for full information. Client 1) Each applicant must be a passport holder and have their citizenship noted in the nationality section of their passport for a country not listed in Skipton International's Restricted Country List. 2) Each applicant must remain resident overseas and not planning to move to the UK in the near future or reside in the property in the future. 3) The client cannot be living, working or a national in a country on our Restricted List. Please note Skipton lends to Australians living outside of Australia. 4) The client is not a Chinese national residing in mainland China. This does not apply to residents of Hong Kong, Chinese nationals living outside mainland China or Expatriates working in mainland China. 5) The client needs to have a UK bank or building society account from which direct debits can be arranged to pay their mortgage. This must be opened prior to application. If they are not using a “major UK Bank” or an easily recognisable Bank or Building Society, they will need to provide an email confirmation from the Bank in question. They must confirm they can allow Direct Debits to be claimed from the account. 6) One month bank statement. This must show their salary / pension being credited and mortgages/ rent being debited (if applicable). The statements must detail account holder’s name(s), account number, narrative, debits, credits and running balances. See packaging guidelines for a full list of required documents. 7) The client can never have been declared bankrupt, insolvent or equivalent and no action should be pending. They should never have entered into any arrangement with creditors or party to a voluntary arrangement. Should never had a property repossessed by a lender or entered into an arrangement for mortgage arrears. They should also not have an unsatisfied court order or have any such actions pending. If a court order has been satisfied, we will look at this on a case by case basis. Portfolio Landlord Once an applicant owns four or more mortgaged Buy-To-Let properties, they are classified as a "Portfolio Landlord". At this point, Skipton International applies enhanced affordability checks. If your client is a Portfolio Landlord as defined above, Skipton requires any properties within the portfolio, that are mortgaged via other lenders, to meet Skipton International's BTL affordability criteria. This means that rental income must provide a minimum of 125% interest cover, when interest is calculated on total borrowings at a rate of 5.5%. This calculation is applied to all BTL properties mortgages outside Skipton International on a collective basis. In the event of a rental shortfall the application will be declined. In addition: The above is not exhaustive just a guide. Income Clients can be employed, self employed or pensioners. Income must be from one source only. i) Is your sole basic earned income (not including commission, overtime or bonuses) or pension income over £40,000 or the equivalent of £50,000 p.a. if paid in local currency? ii) For a joint application where neither party is earning £50,000 p.a sterling equivalent, is the combined basic earnings of both parties £80,000 p.a sterling equivalent? Certain guaranteed allowances may contribute towards this figure. Any probationary period must be passed prior to applying. Any earned income cannot be subject to UK income tax. iii) If self-employed, can you provide evidence that either party's annual income is in excess of £60,000 p.a. sterling/ or equivalent of £75,000 p.a. if earned in local currency. Any earned income cannot be subject to UK income tax. iv) Self employed applicants can appoint a local fully qualified accountant working in an accountancy firm with a minimum of two partners. The firm and accountant must be: OR Alternatively, self employed applicants can provide the last years final income tax assessment (where written in English). iii) If pensioners, a minimum income of £40,000 per annum or the equivalent of £50,000 per annum if paid in local currency. This can be subject to UK income tax if the clients have retired abroad and can be from more than one pension provider. Mortgage 1) We support mortgages on properties in England, Wales, Scottish mainland and the Channel Islands. Please note Skipton International does not lend on properties located in Northern Ireland, Isle of Man or the islands of Scotland 2) Minimum mortgage of £100,000 and maximum exposure per client, together with connected persons, of £3m. 3) The maximum age of applicants at the start of the mortgage is 69 and maximum age at expiry of mortgage is 84. 4) The maximum mortgage term is 35 years subject to point 3. Property 1) The property must be for Buy-To-Let purposes and neither the borrower nor their family can live in the property during the original 3 or 5 year Tracker or Fixed rate product period. 2) The property cannot be on our unacceptable properties list. 3) Consumer buy to lets are acceptable. 4) The property must be let on a suitable Assured Shorthold Tenancy agreement (or a Private Residential Tenancy agreement if in Scotland) and not be used as a holiday let or HMO. Please refer to our property letting requirements documents for further information. Property Letting Requirements (England and Wales) 5) The property needs to have been owned by the existing owner for a minimum of 6 months (this applies to purchase/remortgage/equity release or further borrowing). Inherited property is not subject to this 6 months as long as Probate is complete and a letter from the solicitor dealing with the estate confirms that the customer has inherited the property.
- Clearly identifiable
- Suitably qualified (local equivalent of ACA, FCA, ACCA, FCCA, IPFA or ICAS)
Property Letting Requirements (Scotland)
Rental calculations
3 Year rate - 125% @ 5.5%
5 Year fixed rate - 125% @ pay rate
110% available on selected deals. Please click link below.
Rental calculations
To enable your client to take advantage of the 110% stress test at 5.50% for the 3 year base rate tracker or 110% at payrate on the 5 year fixed, they need to meet the following criteria.
Restricted countries
A full risk based list of restricted countries
Restricted countries
Skipton will not accept applications from clients resident in or citizens of the following countries: Please note Skipton lends to Australians living outside of Australia. We do not lend to Chinese nationals residing in mainland China.
Unacceptable properties
Properties that fall outside of our current policy
Unacceptable properties
Properties/developments against which Skipton will not lend This list is not exhaustive and will be updated from time to time: Developments which Skipton will not lend If you have a new build property and/or any that are not on this list, please refer to the Sales team as normal on 0044 (0)1481 734000 or mortgagesales@skiptoninternational.com prior to applying. Also, please note that the developments may have various postcodes and not just those provided. Energy Performance Certificate (EPC) (England and Wales) Skipton International will only be able to provide mortgages against rental properties with an EPC of A to C or a ‘D’ rating only if it can be upgraded to an A to C rating. Skipton International will require applicants to supply a copy of a current EPC relating to the security property at the time of the mortgage application. Skipton reserve the right to request the provision of an EPC at any point during the life of your mortgage. For further information and guidance, please visit the UK Government web site; To check if your property meets the required standards, simply click on the following link, enter the postcode and download the Energy Performance Certificate in PDF format. https://www.epcregister.com/reportSearchAddressTerms.html?redirect=reportSearchAddressByPostcode Energy Performance Certificate (EPC) (Scotland) Skipton International will require all landlords of Scottish rental properties to have a minimum Energy Performance Rating of D. Skipton International will require applicants to supply a copy of a current Energy Performance Certificate relating to the security property. Skipton International reserves the right to request provision of Energy Performance Certificates at any point during the life of your mortgage. To check if your property meets the required standards, simply click on the following link, enter the postcode and download the Energy Performance Certificate in PDF format. https://www.scottishepcregister.org.uk/ For further information and guidance, please visit the UK Government web site; https://www.gov.scot/publications/energy-performance-certificates-introduction/ Ground rent criteria Ground rent Prior to submitting your application please refer to the “Supporting Documentation Check List section called “Ground Rent” to ensure that your ground rent is within criteria. Ground rent New Builds Ground rent Previously owned property Estate Rent charges Construction Licensed Houses of Multiple Occupancy Flats Other
Packaging guidelines
As applicants are non-UK resident please note that documentation requirements may possibly be more extensive than for UK resident mortgage applications with other banks. Therefore please read these guidelines carefully.
Packaging guidelines
As applicants are non-UK resident please note the documentation requirements may possibly be more extensive than for UK resident mortgage applications with other banks. Therefore please read these guidelines carefully. Applications will NOT be underwritten unless a full pack is received and incomplete applications will be returned to sender as underwriting cannot be completed until all packaging requirements have been satisfied. For House Purchases you must instruct solicitors to act on your behalf. You are of course at liberty to instruct any solicitor of your choice, however, Skipton uses Conveyancing Direct for properties in England and Wales and Aberdein Considine for properties in Scotland. Both firms do offer Skipton clients a competitive rate and whilst your and Skipton’s interests are represented separately it can often be more efficient and timely to use a common firm. Conveyancing Direct may be contacted via Kosta Rigas and their Business Development team, on +44 (0)1424 464846 or by email at sales@cdpll.co.uk. Aberdein Considine Solicitors may be contacted via their Senior Solicitor, Natasha Day, on +44 (0) 1224 337 467, or by email at skiptoninternational@acandco.com Original Application Form and Direct Debit Mandate (must be signed in accordance with passport and signatures provided). All non-English documentation must be translated by a reputable translation company. For each applicant please ensure that you provide the following supporting documentation with the application. The pack can be sent via email or posted/couriered to Skipton International Ltd’ If a panel broker, please contact the sales team for guidance on submitting applications. UK Buy-To-Let application pack Application Form and Direct Debit Mandate (must be signed in accordance with passport) and attach the following supporting documentation: 1. Photo identification Certified copy of passport (our identification verification form, seen in the application pack, should be used by the certifier). If not using the form, the certification needs to be include the wording “Having seen the individual and identification document at the same time I certify this is a true copy and that the photograph is a reasonable likeness”. Please ensure that the signature page of the passport is also provided. Copies must be certified by a professional person. For a list of Acceptable Certifiers please visit https://www.skiptoninternational.com/sites/default/files/uploaded/forms/VerificationofIdentityHelpSheet.pdf 2. Address verification Please provide one of the following as proof of current address (not required for previous addresses): If the client wishes to use a correspondence address (that is not their residential address) you will need to supply the following:- Copies must be certified by a professional person. For a list of acceptable certifiers please visit www.skiptoninternational.com/sites/default/files/forms/VerificationofIdentityHelpSheet.pdf 3. Income confirmation Income must be from one source and cannot include rental income. i. Employed income Please provide the following documents in English. We can also accept certified translated documents from an easily identifiable, fully qualified translator. ii. Self employed income confirmation If self-employed applicants must have been trading for a minimum of 3 years, please appoint a local fully qualified accountant working in an accountancy firm with a minimum of two partners. To complete Skipton International Accountants Certificate which can be found on our Forms page. The firm and accountant must be: OR Alternatively, self employed applicants can provide the last years final income tax assessment (where written in English). iii. Pension income – can be from more than one pension provider 4. Bank statements – can be copies, certification not required Please provide the following documents in English. We can also accept certified translated documents from an easily identifiable, fully qualified translator. Any reversals, returned items or debit balances in excess of any overdraft limit should be fully explained with supporting documentation. (e.g. copy of savings account providing evidence of liquid cash available to cover these instances). Skipton International is unable to process an application where you have either had any reversals, returned items or debit balances in excess of any overdraft limit within the last 3 months. 5. Mortgage statements – can be copies, certification not required Please provide the latest 12 months mortgage statements for all mortgages held. Statements must detail account holder’s name(s), account number, narrative, debits, credits and running balances. Skipton International is unable to process an application where you have either had a late or missed mortgage payment within the last 12 months. 6. Source of Deposit Funding For all purchases you must complete the “Declaration of Source of Funds” section and provide supporting documentation: a list of acceptable documentary evidence is noted with this section. This is not required for remortgages. 7. Gift received (where the deposit or other costs are being donated by a third party and can include gifted equity) Where the deposit or transaction costs/equity are being donated by a third party, please complete the Gift Letter. Please provide supporting documentation which details the source of funds, a list of acceptable documentary evidence is noted on the form. An amendable version is available on our website www.skiptoninternational.com/forms-download 8. Tenancy agreements Please supply the latest copy of the Assured Short Hold Tenancy Agreement for ‘The Property’ if the application relates to a remortgage, equity release, further advance and revesting of names. Please see our ‘Property Letting Requirements’ at; England & Wales: https://www.skiptoninternational.com/sites/default/files/uploaded/forms/Property-Letting-Requirements.pdf
- Clearly identifiable
- Suitably qualified (local equivalent of ACA, FCA, ACCA, FCCA, IPFA or ICAS)
eMortgages
You will need to be a Skipton International panel broker to have access to the eMortgage system
Click here for more detailseMortgages
You will need to be working for one of Skipton International’s panel brokers before you register as you will need a dedicated broker number. If you are unsure, please call Kate Le Prevost on 0044 (0)1481 732260 or email mortgagesales@skiptoninternational.com
Please ensure all the documentation is ready to upload as per the packaging guidelines prior to submitting a case.
Please see our eMortgages guide for more information.
Our eMortgage system offers a range of options including:
- Create a Full Mortgage Application (FMA)
- Reprint a previously completed FMA
- Partially complete an FMA and return to complete it later
- View a list of all your cases created online
- Upgrade your registration details
About us
Skipton International is a wholly owned subsidiary of Skipton Building Society and is a Guernsey based bank.
Learn more details about Skipton International
* Please note Skipton International does not lend on properties located in Northern Ireland, Isle of Man or the islands of Scotland.