Becoming a buy-to-let (BTL) landlord has become increasingly challenging in recent years, with current landlords also facing difficulties after changes to tax relief. As such, it’s more important than ever to secure the best possible BTL mortgage to ensure your figures stack up correctly, allowing you to maximise the profit you make.
This is made easier by working with a BTL mortgage lender who offers competitive rates, regardless of what sort of landlord you are. For example, we are currently working with a flexible lender who offers a range of excellent BTL products.
This lender’s BTL offering is very competitive, and their understanding of this market means they are able to cater for investors across the board, from first-time landlords to those with extensive portfolios. This lender can offer BTL loans of up to £1million at 65% loan to value (LTV), whether you’re looking to purchase or remortgage a BTL property. This lender can also consider lending above this threshold on a case-by-case basis.
An example of the rates they offer are shown below, depending on what your landlord status is.
|Your profile||Product||Rate||Rental calculation|
|Individuals||5-year Fixed||3.49%||145% x payrate|
|First time landlord||5-year Fixed||3.69%||145% x payrate|
|Limited Company||5-year Fixed||3.49%||125% x payrate|
|Portfolio Landlord||5-year Fixed||3.89%||145% x payrate|
Each landlord profile has different criteria. For example, if the property in question is owned by an individual, this lender will work with landlords who owned a maximum of three properties within any one postcode.
If the property is owned in a Limited company, this company must be registered in England or Wales, and the Limited company must be a Special Purpose Vehicle (SPV) for the purpose of property rental.
Meanwhile, if you are a portfolio landlord, this lender will accept applications from landlords with a maximum aggregate loan to value (LTV) of 75%. This lender’s portfolio landlord offering is particularly strong, and they do not require business plans.
Whatever your BTL mortgage requirements are, this lender has a broad product range and could be a great match for you. If you’d like more information, we’d be delighted to help.