Buy to Let Mortgage 

Residential investment mortgage, secured by a single dwelling that is let out under a standard AST (assured shorthold tenancy agreement).

These are single loans secured by a single property which could form part of a larger portfolio.

Mortgages are available for refinancing or for purchasing new properties.

When refinancing, we can raise additional funds on existing owned buy to lets for onward property purchases.

Affordability and repayment

The affordability of the loan is based primarily on the rental income the property generates (or will generate if currently empty).  We also have access to products which use ‘top slicing’ meaning surplus personal income can be factored in to help the debt servicing case.

Ownership Structures

Acceptable customer types include:  Sole Trader, Partnership, Limited Company (Ltd) or Limited Liability Partnership (LLP).

Loan terms and lending criteria

Loans are typically capped at 80% loan to value (LTV) with an interest only repayment structure.

B2L mortgages are offered subject to valuation and completion of security.  Lenders usually insist on the use of pre-accredited solicitors and a valuer which forms part of their pre-approved panel.

We have access to products for professional landlords and first-time landlords.  We also work regularly with a number of large buying groups.

Pricing and fees

Pricing of these facilities can vary greatly, and it is often linked to the loan to value (LTV), loan amount and credit quality of the borrower.

2, 3, 5 and 10 year fixed rates are available, as well as variable interest rates for added flexibility.  Most fixed rate products carry early repayment charges.   Arrangement fees can range from 2 – 7% of the loan amount which can be added to the facility.