Buy to Let Mortgages

BuytoLet

Overview

Our range of buy to let mortgages offers landlords a variety of solutions, whatever their situation. We can help portfolio landlords, limited companies, those looking at HMOs, and even first time buyer and first time landlords. Using top slicing to support a mortgage may be the solution for some, whilst a 5 year fixed rate could be more suited for another.

Making it easier

NEW! We have recently launched our new Buy to Let Mortgage submission guide. This document has been designed to help provide a smooth application process for you and your customer. Click here to view the guide.

Highlights and features

  • New: Use top slicing to support a rental shortfall above an ICR of 110% calculated at pay rate.
    • Ideal for low yield, high value properties
    • Available on any core buy to let product including short term fixed rates and trackers
    • Applicable to non-portfolio landlords
  • Rental cover - ICR: based on individual circumstances
  • Rental cover - Assessment rate:
    • Higher of pay rate + 2%, or revert rate (minimum 5.50%) for shorter term Fixed and Tracker products
    • Pay rate for 5 year + Fixed rates (additional underwriting may be required)
  • 5 year fixed rate products that help maximise the loan size available
  • Minimum property value of £55,000 (excluding London and HMO properties)
  • Maximum term of 35 years
  • Maximum age at application 80 years
  • 2 and 5 year fixed rate products

Click here to see more information about our Limited Companies and Houses in Multiple Occupation (HMO) range.

Key criteria

Click here to view the buy to let mortgages criteria guide for further information.

Who is this range for?

  • New: Landlords with 3 or fewer mortgaged buy to let properties can use top slicing to support a buy to let mortgage
  • landlords with high quality properties with a low rental yield
  • experience or retired landlords looking to extend their portfolio
  • self-employed landlords with 1 year’s accounts
  • landlords looking to purchase a new build property
  • first time landlords
  • first time buyer landlords
  • consumer buy to let

Portfolios without the heavy lifting?

If you have a landlord who has 4 or more properties click here to visit our dedicated portfolio page.

Packager Panel

Let our Packager Panel do the work for you.

You can submit a residential or buy to let mortgage to us direct or alternatively you can introduce a case to one of our packagers.

Contact one of our packagers direct today.

LIBOR Trackers and the Reversion Rate

LIBOR Trackers and the reversion rate are variable rates that are linked to 3 month LIBOR and will change quarterly on 12 March, 12 June, 12 September, 12 December. Please note if this date falls on a non-working day then the LIBOR rate will be taken on the previous working day.

All of our LIBOR tracker products have a floor. This means that if LIBOR were to fall to 0.00% or less the rate payable will be 0.00% plus the agreed set percentage above LIBOR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker mortgage.

For intermediary use only
BBR 0.50% / 3 month LIBOR 0.61%