Skipton International lifts SPV buy-to-let lending to 75% LTV — but key criteria are still missing

Skipton International has increased limited company/SPV buy-to-let lending to 75% LTV and cut the minimum loan size to £100,000 across its UK BTL and SPV ranges, a change that could open up smaller purchases and refinances for London landlords.

That is the headline. The more important caveat is that the announcement, as cited, does not include the live product detail landlords and brokers actually need: no implementation date, no pricing, no stress-testing terms and no clear property eligibility.

What has changed

Two points are confirmed:

• Up to 75% LTV for UK limited company/SPV buy-to-let borrowing
• A £100,000 minimum loan size across the UK BTL and SPV ranges

For company borrowers, the 75% ceiling may reduce the cash needed up front. On a £400,000 purchase, that means a potential £300,000 loan and a £100,000 deposit before SDLT, legal fees and lender charges. At 70% LTV, the same deal would require a £120,000 deposit.

The lower loan minimum may also bring more low-balance cases into scope, especially outer-London flats, smaller remortgages and selective portfolio restructures where the borrowing requirement sits close to six figures.

Why this is useful — but not yet enough

A criteria change is not the same as a workable mortgage option. The source material does not say:

• when the changes take effect
• whether they apply to pipeline or DIP cases
• what rates and fees apply
• how rental stress testing will work
• whether minimum income or landlord experience rules apply
• which property types are accepted or excluded

Until those points are clear, this should be treated as an expanded lending appetite, not a fully assessable product proposition.

Higher LTV helps cash flow only if the deal still stands up

For London landlords, higher leverage can preserve capital for works, licensing, voids or contingency reserves. But it also raises exposure. A 75% LTV deal may come with a higher rate, tighter affordability, or both.

That matters in London because the running costs are high in absolute terms: service charges, major works bills, repair costs and borough licensing fees can all erode margin quickly. If the appeal of the deal is mainly a smaller deposit, the numbers should be rerun using a higher interest rate and a realistic void assumption before any application goes in.

The £100,000 minimum could be more important than it looks

The reduced minimum loan size may prove the more practical change. Not every landlord needs maximum leverage; some need a lender willing to look at a smaller remortgage balance without forcing a larger loan than the case requires.

That could be relevant where a landlord has built up equity, wants to refinance a single unit within a portfolio, or is dealing with a lower-value property where many mainstream BTL loans start too high. In those cases, access to a £100,000 floor can widen lender fit even if the client never goes near 75% LTV.

SPV borrowing still does not settle the structure question

A lender being prepared to offer 75% LTV to an SPV does not mean a company structure is automatically the right answer. For purchases or refinances involving a company, the real issues are often elsewhere: tax treatment, SDLT, profit extraction, guarantees, legal charges and ongoing accountancy costs.

For refinance cases in particular, landlords should also check for wider portfolio effects. New borrowing can interact with existing debentures, personal guarantees, early repayment charges or cross-property covenants. The lender with the highest leverage is not always the lender that leaves the portfolio in the strongest position.

The practical takeaway

Skipton International’s move to 75% LTV for SPV borrowing and a £100,000 minimum loan is potentially useful, especially for London landlords with smaller company cases or low-balance refinances. But until the lender’s full live criteria are confirmed, it is a headline worth checking — not a basis for advice on its own.

Rentals and Sales can help you assess whether this new SPV criteria actually works for your London purchase or refinance once rates, stress tests and property eligibility are checked in full.