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Buy to Let Mortgage Lenders in the UK

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Aug 12, 2022

Buy to let mortgage lenders in the UK – Who should you choose?

Many customers contact us looking for the best mortgage deal and mortgage lender for their buy-to-let (BTL) properties.

A buy-to-let mortgage provider is available to assist you in navigating the buy-to-let mortgage landscape and to help you locate the best buy-to-let lenders for you.

Start today by clicking the link for a no-obligation conversation below; We can help with any residential mortgage and rental property market.

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What you need to know about buy-to-let mortgage lenders

Most UK buy-to-let lenders offer interest-only Buy To Let mortgages. The borrower pays the monthly interest using the monthly rental income.

Buy-to-let mortgage deposits for most of the UK’s lenders require a more significant deposit than a residential mortgage loan.

To avoid losing your time using a mortgage calculator and having your application rejected, it is essential to consult an expert to help you choose the right lender.

Enquire here today to find the mortgage deal for you. We can discuss interest rates, mortgage repayments and any other mortgage questions you may have.

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Other essential points to be aware of:

  • Most lenders require a minimum income to help pay for periods of no rental income. This is usually around £20k to £25k per year. Some lenders will accept £15k, while others don’t require any minimum income.
  • A BTL property will require a minimum deposit. This is typically between 20-40% of its value.
  • Most providers require that rental coverage be between 125-170% depending on tax status. Top slicing is when a lender allows the borrower to use their personal income to increase the mortgage amount if they don’t have enough rental income.
  • Bad credit history will likely make it harder for lenders to lend to you. Affair Credit Mortgage may have a higher loan-to-value requirement. You must also consider how severe and recent your credit problems are.


How to find the best UK buy-to-let mortgage lenders

Although it may be tempting to contact lenders directly, working with a whole-of-market mortgage broker is the best way to ensure you get a great deal. Our specialists can quickly compare products and provide access to the entire network of mortgage lenders, including buy-to-let specialist lenders.

Even if your credit history isn’t excellent, your credit score may be negatively affected if multiple applications are made in a short time. You can avoid this by working with one of our buy-to-let experts, who will be capable of conducting searches on your behalf.

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What to Expect from Lenders for Buy-to-Let Mortgages

Each lender will have different requirements for applicants for buy-to-let mortgages. We have summarised some of the most well-known BTL lenders and their approach to mortgage applications for buy-to-let.

This overview will give you an idea of the BTL mortgage lender market. However, it is an excellent place to start to get more information, such as private mortgages, building society mortgages and online mortgages.

Buy to Let Nationwide

Their lending company, The Mortgage Works, provides nationwide buy-to-let mortgages. The following are the lending criteria for mortgage applicants who are interested in The Mortgages Works buy-to-let mortgages:

You must be at least 21 years old and able to provide three years of minimum UK address history.

Barclays buys to let

Barclays mortgages for buy-to-let are open to all applicants over 21 and up to three additional applicants who must be at least 18 years old. Barclays BTL’s upper lending limit for single applicants is £2m. Single applicants must have a minimum of £75k annual income to qualify for a Barclays BTL loan. Our advisors have access to private or high-net-worth BTL mortgage lenders who do not have these lending limits.

HSBC buys to let

Only UK residents with a minimum annual income of £25k and are homeowners are eligible for HSBC buy-to-let mortgages. The maximum LTV of an HSBC BTL mortgage is 75%. This depends on the amount of the loan and how much the rental income is.

The property cannot be rented to more than one tenant, such as students.

RBS buys to let

RBS mortgages for buy-to-let are available to UK residents aged 18 and 70. There are no age restrictions. RBS BTL mortgages let you borrow between £25k to £3.5m for a minimum term of 3 years and require a deposit of at most 25% (35% for new buildings).

Our advisors have access to BTL lenders that can approve borrowers with less than £500.

Santander to buy to Let

Santander Intermediaries’ buy-to-let mortgages are available for existing homeowners who earn a minimum of £25k annually. The maximum loan amount is £750k with a maximum LTV of 75% for new-build flats or 70%. Capital raising is possible via remortgage/debt consolidation.

Santander launched a 1-year fixed rate BTL mortgage in January 2019. Most buy-to-let mortgages have a fixed rate for five years. It is available at up 75% LTV and has a rate of 2.255%. There are no product fees.

Lloyds buys to let

You must be 25 years old to apply for a buy-to-let Lloyds mortgage. A minimum property value of £50k is acceptable. Additionally, a 25% deposit is required.

You can take out up to £2m in loans or have up to 3 mortgages from the Lloyds Banking Group brands.

  • Lloyds Bank
  • Halifax
  • Bank of Scotland
  • Birmingham Midshires
  • Scottish Widows Bank
  • Intelligent Finance
  • The Mortgage Business (TMB).

After 2017’s tax legislation, Lloyds also considers any additional tax liabilities.

TSB buys to let

A three- or five-year fixed rate TSB mortgage buy to let with a loan amount of £25,001 to £1m, or a maximum of three mortgages of up to £2m is possible. For Lloyds TSB mortgages, the maximum LTV is 75%. However, this limit does not apply to new builds.

Halifax buy to Let

Existing homeowners in the UK can apply for Halifax buy-to-let mortgages. You must be less than 80 years old when the term ends. Halifax requires a minimum deposit of 75% and a property valued at £50,000 to be eligible for Buy-to-Lets. To be eligible, you cannot have more than 10 BTL-mortgaged properties with any lender.

NatWest buys to let

If you are 18 to 70 years old and have a minimum deposit of 25% (or 35% new build) for a property of at least £50k, you can apply for NatWest buy-to-let mortgages. NatWest BTL mortgages cannot be obtained for properties that are not being used.

Yorkshire Building Society buys to let

Yorkshire Building Society’s buy-to-let mortgages are offered through their intermediary subsidiary, Accord Mortgages. LTV for Accord For Intermediaries BTL mortgages ranges between 75% to 80% for loans between £50k & £1m.

Although Accord BTL might consider lending to applicants with bad credit histories, there are restrictions. We recommend you speak to one of our expert brokers rather than applying directly to risk your credit score. Call us to find out if a Yorkshire buy-to-let mortgage is right for your needs.

Woolwich purchased to let

Woolwich mortgages for buy-to-let are available through Barclay’s intermediaries. They accept applicants over 21 with a minimum annual income of £25k. Woolwich BTL mortgages allow landlords to let their properties out to students, housing associations, and standard Assured Shorthold Tenancies.

Birmingham Midshires buy-to-let

BM Solutions, a BTL mortgage intermediary in Birmingham Midshires, handles Birmingham Midshires’ buy-to-let mortgages. Applicants between the ages of 25 and 75 will be eligible for BM Solutions buy-to-let mortgages. The maximum period, in the end, is 80. You cannot be a first-time buyer, but you can be a professional or first-time landlord.

While at least one applicant must work, self-employed or disabled, there are no minimum income requirements, except for portfolio landlords.

Virgin buys to let

Virgin Money mortgages that are buy-to-let must have a rental income of at least 145% of monthly payments. If you earn at least £50k and have a mortgage term of more than 75 years, your personal income can be used for rental shortfalls of 100% to 145% interest coverage ratio (ICR).

The expert buy-to-let mortgage brokers that we work with will be glad to help you.

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Post Office buys to let

The Bank of Ireland provides mortgages for Post Office buy-to-let. To be eligible for a Post Office BTL mortgage, you must have a minimum of 25% deposit (75% LTV), age 21+ (but not older than 80 at the end) and be a UK homeowner.

Fixed-rate Post Office BTL mortgages can be obtained at a fixed rate for five years on loans between £25.001 and £1.5m. The ability to repay is based on the rental income. This must not exceed 145% of the monthly interest.

Aldermore Buy to Let

Aldermore offers a wide range of buy-to-let mortgages and products, including new builds, limited liability partnerships (LLP), special purpose vehicles (SPVs), HMOs, new builds, HMOs and ex-local authority properties.

Aldermore offers BTL mortgages for existing landlords over 21 and first-time landlords above 25. They lend on properties with a minimum value of £60k. First-time landlords will need to deposit 25%.


Leeds Building Society buys to let

Leeds Building Society has a minimum LTV (60%) for loans up to £500k. They also include HMOs and fixed rate options for 2-year and 5-years. You may be able to make 10% annual capital repayments without any fees.

Buy to Let in Principality

Principality offers fixed rate, tracker, and discounted buy-to-let mortgages. The LTV ranges from 60% to 75%. The minimum rental income is 145%. Principality’s buy-to-let mortgages are only available for properties in England and Wales. Our advisors have access to lenders that cover the UK and overseas buy-to-let mortgages.

First Direct Buy to Let

First Direct used to offer buy-to-let mortgages, but this product is no more available.

Kent Reliance buys to let

Kent Reliance for Intermediaries Buy to Let Mortgages offers more products and options than other lenders. This includes ex-pats and portfolio landlords as well as limited companies and HMOs.

Kent Reliance mortgages for buy-to-let are generally available to anyone between 25-79 years old. The maximum age at the end of the term is 85. However, people younger than 25 might be considered depending on the circumstances.

You should be aware that many lending criteria are associated with each item. Before you approach the lender, getting the right mortgage advice is essential.

For a free, no-obligation enquiry, contact here.

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Coventry buys to let

Coventry mortgages to buy-to-let are available to prospective landlords. This includes portfolio landlords with no more than five BTL properties mortgaged to the Coventry Building Society Group and those with up to 10 mortgages to any other lender.

Coventry Building Society mortgages are available to rent. The LTV range for buy-to-let mortgages is between 50%-75% depending on income, financial commitments, credit history and potential rental income.

Clydesdale Bank purchases to let

You must be at least 18 years old and have a clean credit record to apply for a Clydesdale mortgage buy-to-let mortgage. You cannot disclose any other criteria on your application. If you enquire, one of our BTL mortgage experts can help with any questions and help you get started.

Skipton Buy to Let

Skipton Building Society mortgages for buy-to-let are available in the fixed, tracker, or variable rates. They can be used on up to five properties with a total of £1.5m.

Our advisors have successfully arranged mortgages for buy-to-let with the following buy-to-let lenders.

  • Atom Bank
  • Axis
  • Bank of China
  • Bank of Ireland
  • Bath Building Society
  • Chorley
  • Danske Bank
  • Fleet Mortgages
  • Handelsbanken
  • Hanley Building Society
  • Interbay
  • Kensington
  • Kent Reliance
  • Landbay
  • Leeds BS
  • Leek United
  • Metro Bank
  • Monmouthshire Building Society
  • Newcastle Building Society
  • Nottingham Building Society
  • Paragon
  • Platform
  • Precise Mortgages
  • Scottish Widows
  • Shawbrook
  • State Bank of India UK
  • The Mortgage Works
  • Ulster Bank
  • West Bromwich Building Society

Get expert advice to locate UK mortgage lenders that will provider buy to let mortgages

We are happy to help you if you’re interested in purchasing a buy-to-let mortgage. There are no fees or obligations. Call or send us a message to find the best BTL mortgage, broker.

No matter your situation, our whole-of-market broker network will match you with the right lender for your needs. This could be a specialist lender or a high-street bank.

Only passionate, licensed brokers are allowed to work for us. They have a broad market view and a track record of successfully arranging mortgages. Our customers consistently rate us five stars because they receive excellent advice and quality service.

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