Buy to let mortgage

Whether you’re looking to buy your first property to rent out, or you’re already a professional landlord, we’re here to provide you with the knowledge and expertise to make informed decisions and get great deals.

What is a buy to let mortgage?

Buy To Let (BTL) mortgages are for properties that are purchased as investments, with the intent to rent them out. Keeping on top of everything can be difficult for landlords, but we have specialist knowledge that can help you get the best deal for your investments. Whether you’re a new or existing BTL landlord, we can help you maximise your return on your property portfolio, be it 1 or 100 properties.

We offer a free initial consultation of your needs, and get you the best deal on the market with research based on our understanding of your tax liabilities and the BTL structure options. We go the extra mile, guiding you through the process from start to finish. There are no upfront fees, and we’ll be here to help you across the lifetime of your mortgage.

How to qualify for a buy to let mortgage

Before you can take out a Buy To Let mortgage, you first need to meet some basic criteria:

25% deposit minimum

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You will require a minimum deposit of 25% of the property value, e.g. a £200,000 purchase will require a deposit of £50,000.

Age requirements

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BTL mortgages can be available for people from 21 to up to 90, depending on the circumstances.

Income requirements

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Each lender will have different income requirements. We can help £0 income clients and rental-income-only landlords.

First time buyers

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If you’re planning on your first property being for investment, you will need at least a 25% deposit and an income of £25,000+.

Rental income

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If you’re planning on supporting your BTL mortgage with your rental income, it will need to be verified by the valuer and the tenancy agreement you have in place.

Multiple occupancy

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We can support landlords looking for student lets, HMO, and multi-unit blocks.

Limited company BTL

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This is a great, optional solution which can be beneficial for those looking to be more tax efficient.

Step-by-step for buy to let

Your journey begins by choosing the right mortgage broker and ensuring they can help you achieve your goals. By following our simple process, you can put yourself in the best position to secure your ideal investment property.

1

Get mortgage ready

Speak to an advisor. They’ll understand your budget and buying power, then make sure your deposit sources, income requirements, and paperwork are all in order.

2

Have an Agreement in Principle ready

By ensuring you have an Agreement in Principle, you can be in the best position to deal with estate agents and be ready to put an offer on a property, helping you to secure the property you want. This also soothes the stress of the process, helping you give the required information when its needed.

3

Find your new investment property

Browse the market to find the investment for you. Once you’ve found a house you like, and had an offer accepted on it, get back in touch with us to continue the process. We can liaise with the estate agent on your behalf to ensure all the information necessary to secure the offer is provided. We can also support you with the solicitor’s recommendation, and assist with completing and providing paperwork, ID, and Proof of Deposit documents.

4

Apply for your mortgage

Now that your offer is secure, we can recommend the most suitable mortgage for you. If you’re happy with what we suggest, we can move on to submitting your mortgage application to the lender and for valuation instruction. We will also ask you to send us any updated documents that we don’t already have.

5

Protect yourself and your property

Once the details of the mortgage have been worked out, we can look at the various options available to you for protecting your house,belongings and tenants. We can help you to ensure your investment is protected and can continue to be an asset no matter what happens in the future.

Find out more about our protection services >

6

Mortgage Offer

If the lender is happy with the documentation and the valuation, they can proceed to the Mortgage Offer. When this occurs, you will be approved to borrow the required money from the lender and can proceed with the solicitor’s work. At this stage, there are a few things to consider:

  • Whether or not your deal has early repayment charges
  • If there are fees are attached to your mortgage deal
  • How much your monthly repayments will be
  • Interest rates
  • The length of your mortgage term
7

Solicitors work

Once the solicitors receive the contracts and the Mortgage offer, then can begin instructing searches on your property and sending enquiries to the vendors solicitor. After these have been received, which often takes from 6 to 8 weeks, they will arrange an exchange and completion date with all parties involved. The solicitor will request the mortgage funds from the lender and ensure that any protection policies are given a start date.

8

Get the keys to your new investment property

Congratulations! It’s time to get your tenants to move in 😊.

You will receive your first payment notification by text, email, or post. This will confirm your mortgage account number, your Direct Debit details, and the amount and date of your first mortgage payment.

9

Receive further support from us

We’re still here for you.

When the initial period on your mortgage ends, you’ll likely be moved onto your lender’s standard variable rate (SVR). The SVR is usually much higher than your previous rate, meaning your mortgage repayments can increase significantly.

We’ll get in touch when it’s time to start looking for a new mortgage deal. It’s usually a good idea to start looking for a new deal about 6 months before your mortgage’s initial period ends.

Remortgaging for buy to lets

Are you looking to remortgage your Buy To Let property? We can also help with that. Head on over to our remortgaging page for more information about the services we can offer.

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If you are looking to invest in property, did you know?

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We can help you understand EPC requirements, and what they mean to you.

Your BTL mortgage can be interest only or repayment.

We can also support with limited company BTL mortgages.

You can use your personal income on purchases to help with BTL affordability.

Parents can sell an existing BTL to their children and gift the equity.

We can help with purchases where a tenant is in situ.

We can streamline the BTL mortgage process for purchasing new build flats and new build houses as investments.

You can raise funds for many purposes – both business and personal.

Frequently asked questions from our Buy To Let customers

Whether you’re an experienced landlord or are purchasing your first investment property, we’re here to answer all your questions.

Can I get a BTL mortgage if I am retired?

Lenders can allow you to borrow past retirement age for your BTL investment properties, meaning you could take out a BTL mortgage up to age 90 and beyond in some cases.

Can you help if I have adverse credit?

Landlords with adverse credit are not an issue. Whether it be CCJs, defaults or just small blips in your credit file, we have many lenders that can help.

I want to buy a student let – is the process different?

No, the process is the same. The lender will assess the rent as per other standard let properties. In most cases the process is similar to a normal BTL.

Is the process different if I want to buy a house in multiple occupation (HMO)?

The process is the same and lenders will assess affordability based on individual let rooms. However, you will need to ensure you have the appropriate licensing and permissions in place with the council. You can check this with any council online to understand your responsibilities, or give us a call and we can support you throughout.

Can I buy as a limited company?

A limited company structure can be more tax efficient, especially if you are a higher rate tax payer. We can support you through this by ensuring you have the correct information for you to make a decision. We would always recommend you take independent tax advice at the same time.

We can also support you with setting up the LTD company and intercompany loans.

Can I use an intercompany loan for my deposit?

Yes, we have many lenders that can accept an intercompany loan. There are certain conditions you will need to meet, but we can discuss these with you and guide you through the whole process.

What documents will I need to provide?

You will be required to initially supply the following documents, based on your situation and requirements:

  • ID documents for each applicant, such as a passport or driving licence.
  • Proof of address for each applicant, such as utility bills dated in the last 3 months, bank statements, or council tax statements.
  • Proof of income and expenditure, by way of personal bank statements from the last 3 months.
  • Proof of income for employed applicants, by way of P60 and payslips from the last 3 months.
  • Proof of income for self-employed applicants, by way of self-assessments from the last 2 years or the most recent set of accounts.
  • Proof of deposit from the last 6 months of bank statements, if the deposit comes from savings. Gifted deposits will require bank statements and ID for the person gifting.
  • Proof of UK residency, by way of residency card. You will need to share your code to prove your settlement status.

We have the right to request further information throughout the process, as and when it’s required.

Can you help me understand the differences between buying as an LTD company and buying under a personal name?

We can help you understand what the differences are, either through speaking to you directly, or through our article on BTL for limited companies.
Find out more >

What is EPC regulation for BTL?

The EPC regulation for landlords an Energy Performance Certificate that is required for each property. This is to show tenants and lenders what the energy efficiency of the property is and how it can be improved.

This regulation was supposed to come into effect in 2025. However, the government has delayed the requirements – in any case, all lenders will require a minimum rating of E and a valid, in-date certificate. Landlords can also receive lower mortgage rates if their properties have an A or B rating.

Check your property’s EPC rating >

Can you assist with remortgages for vulnerable tenants?

If you have a corporate let or are looking to rent to tenants that are vulnerable, we can help you secure the right mortgage for your BTL property.

Can you assist with Let to Buy applications?

Yes. If you are looking to change your existing residential home to a Buy To Let, we can help you do this and look at the different options that are available.

Fee information

Although our initial advice and consultation are free, we do charge a fee for our service. This is only payable at the Mortgage Offer stage, once you have received the mortgage offer from the lender. This is a lifetime fee to cover the advice and initial set-up, but also for our support for the mortgage through its term.

Our standard fee for a Buy To Let purchase is £1000 and our standard fee for a Buy To Let remortgage is £650, both being payable on the production of the Mortgage Offer. Should you have any specialist requirements, such as adverse credit or irregular income, we reserve the right to increase our fee accordingly to £1,200.

Specialist lending

Not everyone fits in the same box. If you’ve got special circumstances, you may need a more specialist approach for your lending requirements – we can help you find the right solution for your situation.

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Our insights

Whether you’re in need of guidance for a general concern about mortgages, or just want to keep up with our thoughts on interesting developments in the market, our blogs and news posts are here to lend a helping hand.

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Residential Property Review January 2025

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Economic Review December 2024