£1million+ buy to let mortgage for luxury rental property

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Are you looking for a large buy to let mortgage? If you’re hoping to purchase luxury rental property and need a £1million+ buy to let loan, you may already know how difficult this can be to secure. Proving affordability and rental cover can be problematic, with many high-street lenders having an upper lending cap.

Visitors from around the world are keen to spend considerable time living in London, with many of these wanting to enjoy the benefits of long-term home accommodation without committing to a purchase in the UK. Renting to this sector can be extremely lucrative, with high net worth individuals from around the world hoping to rent luxury London property in prime locations to treat as a second home.

So how can I secure a mortgage for a luxury rental property?

Especially if you are looking to purchase luxury rental property, or invest in the higher-end of the London market, a buy to let mortgage from a top private bank could be the ideal solution for you.

Fortunately, we are now working with a lender offering a fantastic proposition for landlords requiring mortgages for luxury rental property. This lender offers an appealing array of rates, a full illustration of which is offered below.

For buy to let investors looking to prioritise a low interest rate, this lender is currently offering a 2-year fixed rate of just 2.69%, extending to 3.09% if you would prefer the security of a 5-year fix. If a higher percentage of borrowing is a larger concern, this lender can offer fixed rates ranging from 3.09% to 3.79% for buy to let mortgages up to 70% LTV.

This lender offers £1million+ buy to let mortgages, with an upper limit of £10million. Unusually, this lender calculates rental stress at just 100% of the pay rate +3%. They are also willing to consider an applicant’s excess personal income, if there is a rental shortfall when calculating affordability.

luxury rental property rates

What does this lender require?

To qualify for this product, you’ll need to have a minimum income of £300,000, with £3million net asset value (NAV).

If you would like more information on this product, or require buy to let finance advice, I would be delighted to hear from you.

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