Common use of Individual Landlords Clause in Contracts

Individual Landlords. Higher Rate Tax Payers For individual landlords who are higher or additional rate tax payers at the time of application and are borrowing against a single self-contained property, the normal minimum rental value will be 140 per cent of the associated mortgage payment when calculated on an interest only basis at the reference interest rate. For houses in multiple occupation, multi-unit properties and part commercial properties, the normal minimum rental value will be 145 per cent of the associated mortgage payment when calculated on an interest only basis at the reference interest rate.

Individual Landlords. Higher Basic Rate Tax Payers For individual landlords who are higher or additional on the basic tax rate tax payers at the time of application (and are reasonably expected to remain so for the foreseeable future) and are borrowing against a single self-contained property, the normal minimum rental value will be 140 125 per cent of the associated mortgage payment when calculated on an interest only basis at the reference interest rate. For houses in multiple occupation, multi-unit properties and part commercial properties, the normal minimum rental value will be 145 130 per cent of the associated mortgage payment when calculated on an interest only basis at the reference interest rate.

Individual Landlords. Higher Rate Tax Payers For individual landlords who are higher or additional rate tax payers at the time of application and are borrowing against a single self-contained property, the normal minimum rental value will be 140 per cent cent. of the associated mortgage payment when calculated on an interest only basis at the reference interest rate. For houses in multiple occupation, multi-unit properties and part commercial properties, the normal minimum rental value will be 145 per cent cent. of the associated mortgage payment when calculated on an interest only basis at the reference interest rate.