Monument has launched a digital buy-to-let (BTL) loan calculator to allow mortgage intermediaries to check affordability levels against the bank’s rental income requirements.

The online calculator allows intermediaries to calculate the maximum borrowing amount, monthly repayments, as well as the different rates available based on loan to value (LTV) bands. 

Monument says the calculator works with its existing and future BTL product range. 

The lender currently offers two and five-year fixed rate products up to 75% LTV on lending below £1m with a £3m maximum loan size. 

There are no exit fees or early repayment charges on its five-year fixed rate product range after three years.

Commenting on the new BTL calculator, Monument head of lending Conor McDermott says: “We hope this will prove useful and we look forward to engaging further with the intermediary community in the coming months and extending our proposition to meet a variety of landlords ever-shifting needs.”