Buy to Let Mortgages

Buy to let deposits typically range from 20% to 40%, depending on your experience as a landlord, the property type and the lender's criteria. Most lenders require a minimum of 25%. First-time landlords and HMO buyers often need more. We can advise on the minimum required for your specific circumstances.

Yes, it is possible to get a buy to let mortgage without owning your own home, although your options may be more limited. Some lenders specifically cater for first-time landlords. You will typically need a larger deposit, often 25% to 40%, and will need to meet the lender's affordability criteria. We can find lenders who accept first-time landlord applications.

It depends on your circumstances, tax position and long-term goals. A limited company SPV may offer tax advantages, particularly for higher-rate taxpayers, as mortgage interest relief remains fully deductible. There are additional costs and admin to weigh up, so we recommend speaking to a tax adviser to compare the options. We can then arrange the mortgage for whichever structure you choose.

A Special Purpose Vehicle is a limited company set up specifically to purchase and manage investment properties. SPVs use particular SIC codes that lenders require, usually 68100 for buying and selling property or 68209 for letting and managing property. Many buy to let lenders now offer competitive rates for SPV purchases, and we have extensive experience in this area.

Lenders primarily assess buy to let affordability on the expected rental income rather than your personal income. Most require the rent to cover 125% to 145% of the mortgage payment at a stressed interest rate, typically around 5% to 5.5%. Some lenders also consider your personal income as a top-up if the rental income falls slightly short. We can run these calculations for you.

A portfolio landlord is someone who owns four or more mortgaged buy to let properties. Since 2017, lenders must apply additional underwriting standards to portfolio landlords, assessing the performance of the entire portfolio rather than just the individual property. We specialise in helping portfolio landlords navigate these requirements.

Yes, HMO (House in Multiple Occupation) mortgages are available from specialist lenders. You will typically need a larger deposit, often 25% to 40%, and the property may need a licence depending on its size and location. Lenders assess the rental income based on the number of lettable rooms. We have experience with HMO mortgages and can guide you through the process.

Yes, holiday let mortgages are a separate product designed for properties let short-term to holidaymakers. Lenders apply different criteria, often requiring the property to be in a recognised holiday location with evidence of letting potential. Rental income is calculated differently, usually based on projected occupancy. We can find suitable holiday let mortgage products.

Absolutely. We regularly help landlords remortgage their buy to let properties, whether to secure a better rate, release equity for further purchases, or switch from personal name to a limited company (though that involves a sale and purchase). We will review your current deal and find the best options available.

Buy to let mortgage fees can include arrangement fees (often £1,000 to £2,000 or more), valuation fees, legal fees and broker fees. Some lenders offer fee-free products but with slightly higher rates. We provide a full breakdown of all costs so you can make an informed decision based on the total cost over your intended hold period.

The timeline varies by lender and property type. An Agreement in Principle can often be obtained within 24 to 48 hours. A full mortgage offer typically takes 2 to 4 weeks once all documentation is submitted. HMO and limited company applications may take a little longer. We manage the process and keep you informed at every stage.

Our first consultation is free and without obligation. We discuss your circumstances, explain your options and give a clear indication of what is achievable. Our fees are discussed upfront before any work begins, and we are transparent about costs. Many clients find that our access to exclusive rates and deals more than covers our fee.