Buy to Let Mortgages

We help our customers secure the very best buy to let mortgage for their needs, from a choice of over 80 UK lenders…

A buy to let mortgage is designed to allow you to purchase a property, in order to rent it to a third party in exchange for a rental income, from a single tenant or from multiple occupants.

Whether you own a single property, a large multi-property portfolio or anything in between, we will get you the very best deal we can find, from thousands in the marketplace…

Get a decision on a great deal TODAY…

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Building with to let sign

Your buy to let mortgage partner…

At Commercial Trust our buy to let mortgage advisors are here just for YOU.

Our experienced team of buy to let mortgage advisors specialise in understanding your needs properly, to ensure that they find you the most appropriate, cost-effective solution possible.

Whether you are looking to purchase your first buy to let rental property, add another property to an existing rental / portfolio or simply check that you are on the best deal possible, we are here to help you, whenever you need us…

We’ll even do the paperwork for you and process the documentation, saving you time and leaving you free to enjoy the rental income!

Discover more...

Mortgage rates

Because we deal with over 80 UK mortgage lenders, you can be sure to find a fantastic rate to suit your requirements. Search our rates now…

Payments calculator

It is essential to know what the monthly payments as well as the total amount repayable on your buy to let mortgage. Use our online payment calculator now…

Application process

At Commercial Trust, our team of dedicated, experienced mortgage specialists are here to help you through the application process from start to completion…

FAQs about buy to let mortgages...

What is the criteria for a buy to let mortgage?

  • You must be 18 years of age, or older
  • You will need a deposit
  • New landlords must have a deposit of at least 20% of the property value
  • Experienced landlords must have a deposit of at least 15% of the property value
  • The rental income of your property must exceed the monthly mortgage payment amount
  • You must not have been made bankrupt in the last 12 months
  • You must not have been in, or discharged from, an Individual Voluntary Arrangement (IVA) in the last 12 months
  • You must not be in, or have settled, a debt management plan in the last 12 months
  • Your tenants must not be family members
  • Your property may be subject to a minimum Energy Performance Certificate (EPC) rating

A wide range of investors can secure a buy to let mortgage. We can help:

  • First time buyers, with no other property
  • Homeowners investing in their first buy to let
  • Experienced landlords with one or several properties
  • Portfolio landlords with a wide range of properties

Upper age limits on buy to let mortgages

Some buy to let lenders do not set a maximum applicant age. If you are retired, you can still get a buy to let mortgage. Securing a buy to let mortgage in retirement is subject to wider criteria, as any application is.

If you are 60 or 70 years old you can get a buy to let mortgage. If you are 75 years old, or more, you still may be able to get a buy to let mortgage.

Buy to let mortgages are always subject to a range of factors. As long as you are older than 18 years old, your age, on its own, will not stop you getting a buy to let mortgage.

How much can I get on a buy to let mortgage?

The good thing about a buy to let mortgage is that the loan amount is commonly based on the rental income of the property, not your personal income (with the exception of first time buyers).

This is one of the key differences between a buy to let mortgage and a mortgage for your own home.

Buy to let mortgage lenders will require the rent to exceed the monthly mortgage payment. The amount the rent must exceed the mortgage payment differs by lender and product.

We can help you borrow the maximum possible, based on your circumstances.

How many buy to let mortgages can I have?

There is no limit to the number of buy to let mortgages any one landlord can have.

Some lenders will limit the total number of mortgages you can have with them. Others will limit both the number of mortgages and the overall amount of money you can borrow.

The other restriction a lender may place is the number of buy to let mortgages you have with all lenders you are borrowing from, across your portfolio.

With such a range of lenders in the marketplace, there are a number of options available.

How much can I borrow for a buy to let mortgage?

Lenders have criteria on how much money they will lend. Maximum loan amounts range from no limit, to a capped amount of hundreds of thousands, or millions, of pounds.

The amount you can borrow is largely determined by the rental income your property will make.

So, whilst a lender may be prepared to give you a loan of up to £2,000,000 (for example), if the rent the property will make does not support this level of lending, the loan amount will be smaller.

Can you get a buy to let mortgage as a first-time buyer?

You can get a buy to let mortgage as a first-time buyer. There are a number of buy to let mortgage lenders who will lend to first-time buyers.

The lender must be satisfied that a first-time buyer is not going to live in a buy to let property. This is because you cannot live in a property that is funded by a buy to let mortgage in your name.

Should I get a repayment or interest only buy to let mortgage?

If you want to own your property outright, at the end of the term, you should get a repayment buy to let mortgage.
Repayment buy to let mortgages pay back the lump sum you borrowed, the ‘capital’. Repayment mortgages also pay off the interest a lender charges you for borrowing the money.

All mortgages set out a period of time over which you want to borrow the money for. This is called the ‘term’ of the mortgage.
Repayment buy to let mortgages mean you own the property at the end of the term.

Interest-only buy to let mortgages only pay back the interest the lender charges. You will not repay the lump sum you borrowed.

If you have an interest only buy to let mortgage, you have to repay the lump sum you borrowed another way.

You can repay the lump sum borrowed with a mortgage by taking out a new mortgage, with savings, or by selling the property.

Can I afford a buy to let mortgage?

Buy to let mortgage affordability is generally based on the rent. So, you need to find out how much rent you can charge.

Property portals may help you look up similar properties, to see how much rent is being charged.

Be realistic about the similarity between two properties. If the physical size of the property is the same, but one property has a garden and the other does not (for example), the rent you can charge may be different.

To meet mortgage affordability calculations, the monthly rent must be more than the monthly mortgage. This is because lenders must ensure a mortgage will still be affordable for you, if your financial circumstances changed.

Can I change my mortgage to a buy to let?

Yes. If you are moving out of your residential home so you can rent it out, you can switch from a residential mortgage, to a buy to let mortgage.

You can also switch onto a buy to let mortgage and increase your borrowing, so you raise capital for the deposit to buy another residential house. This is called “let to buy”.

Are buy to let mortgage interest rates different from residential rates?

Yes. Buy to let mortgage rates are different from residential rates. They are different types of product, with different criteria.

Can I get a normal mortgage and rent out a property?

You cannot get a standard, residential mortgage on a property that you will rent out indefinitely.

If the property is your home and you want to rent it temporarily, you can ask your lender to give you ‘consent to let’. There may be an additional cost associated with this.

Can I get a buy to let mortgage with no income?

Some buy to let lenders will accept applicants whose only income is from rental property.

We also work with lenders who do not have a minimum income threshold. This means that even if you have a very low income, we can help you.

If a lender has a no minimum income rule, they may still want you to prove the income you do receive (e.g. rental, pension, full, part-time or self-employment).

If you have a high levels of savings and do not need to work, we can also help.

Some lenders do impose a minimum personal income requirement of £18,000 – £25,000. Large numbers of lenders do not ask for a specific amount in personal income.

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