Income Cover Ratio is a key affordability measure used by lenders to express rental income against interest costs – a higher percentage means better cover. The ICRs lenders require depend on several factors including whether you’re a normal or higher rate tax payer, whether you own in a limited company and whether the mortgage rate is fixed – we’ll explain options when we speak.
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Foxhill Finance Limited is an Appointed Representative of Connect IFA Limited 441505 which is Authorised and Regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference 1029948.
The FCA do not regulate some forms of Business Buy to Let Mortgages and Commercial Mortgages to Limited Companies.
The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Your property may be repossessed if you do not keep up repayments on your mortgage.
There will be a fee for mortgage advice, the precise amount will depend upon your circumstances. We will confirm the amount before you choose to proceed but our typical fees are £595 for Buy to Let Mortgages and 1% of the loan amount for Commercial and Bridging Finance.
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