Buy to Let Mortgage Lender
Call us on 0808 231 1073, Lines open 24 hours, 7 days a week
Buy to let mortgages are not available to everyone and will depend on your individual circumstances. There is often extra illegibility criteria to apply which varies with each lender and using a mortgage broker will ensure you are taking advantage of all that is available to you.
We are fully independent which means we have access to the whole of the UK lender market. We also have an in house service team who will see your mortgage application through to completion and provide you with updates and support along the way.
Looking to invest?
Prefer investments which feel more real than stocks and shares? Whether you are thinking of making your first property investment or already have a portfolio of properties requiring remortgage options, we can provide you with independent advice and assistance along the way to help you safeguard your investment and maximise your profits.
Is it suitable for me?
Buying to Let is currently the fastest growing market in the mortgage sector and also has the most complex and varied range of products.
Our experienced independent advisers will help you choose the most suitable products for your needs, whether that be capital growth or the maximum monthly return. Buy to Let is becoming a very popular way of funding for retirement. Speak to one of our advisers to see if it can work for you
YOUR BUY TO LET PROPERTY MAY BE REPOSSESSED OR A RECEIVER OF RENT APPOINTED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
Most lenders require a deposit of around 25% of the property’s value for a buy-to-let mortgage, although some may accept 20% in select cases. This higher deposit requirement reflects the increased perceived risk of investment properties compared with standard residential mortgages.
To qualify you generally need to:
– Provide a minimum deposit (typically 20−25 %)
– Show that the property’s expected rental income will comfortably cover the mortgage payments (often at least 125 % of interest payments)
– Meet credit-history, age, and property-type criteria set by the lender.
– Flagstone advisers will help you run through lender panels and ensure your application meets the right criteria.
Borrowing is typically based on the rental income of the property rather than just your personal salary. Most lenders will lend up to around 75% loan-to-value (LTV) and may stress test the repayment using rental income of 125 %-145 % of interest payments.
Yes, many lenders allow you to convert your residential mortgage into a buy-to-let mortgage (often via a “consent to let” or full switch) provided you meet their buy-to-let criteria and inform your lender.
There is no strict legal limit, but individual lenders may set internal caps on the number of buy-to-let mortgages or the total borrowing per applicant. For example, some lenders limit borrowing under one scheme to £3.5 million.
Many lenders will class you as a portfolio landlord once you own 5 properties. This will affect the rates and products that would be available.
While personal income may not be the primary borrowing driver, many lenders still require a personal income of around £25,000 or more alongside rental income assessments. The key driver will often be the rental earnings of the property and your wider financial profile.
It can be more challenging than a residential mortgage because buy-to-let lenders view them as higher risk. You’ll need to satisfy stricter criteria such as adequate rental coverage, larger deposit, clear credit history, and acceptable property type.
Disadvantages may include:
– Higher deposits and interest rates than residential mortgages
– Additional costs and responsibilities (e.g., landlord insurance, void periods, maintenance)
– Tax changes and regulation risks that can affect profitability over time.
– There are generally higher arrangement fees on buy-to-let products.
Lenders will examine your credit history, current debts, proof of rental income potential, your identity, and property details including value, tenancy type and safety compliance. A specialist advisor at Flagstone can help you prepare all required documentation in advance.
If you take out a buy-to-let mortgage, the agreement typically requires the property to be rented out. Living in it may breach the terms of the mortgage. If you change the intended use of the property, you should speak to your lender and advisor to avoid potential enforcement or higher rates.
