Skip to main content

Buy to Let

Buy-to-Let & Consumer Buy-to-Let 

If your client is looking to remortgage or purchase a property specifically for letting purposes, or has decided to let an existing residential property, we could help.

Here's our handy flowchart for Regulated Buy-to-Let and Consumer Buy-to-Let classification guidance.

Please note:

  • Portfolio landlords cannot be considered. Our Buy-to-Let mortgage is only available to customers who will hold, personally or via limited companies, 3 or less mortgaged Buy-to-Let properties following completion of the transaction.
  • Regulated Buy-to-Let cases cannot be considered
  • Maximum LTV is 75%
  • At least one applicant must have a minimum income of £25,000 (or a combined income of £40,000 if a joint application)

For more information about our Buy-to-Let criteria, see our full Lending Criteria here

Buy-to-Let Mortgage (subject to availability) 25% Deposit 3.49% Variable
3.49% 5.99% 5.8% APRC 75% £899 £99

Key Features

Variable rate

A variable rate, currently 3.49%, which is discounted by 2.50% from our Buy-to-Let Standard Variable Rate for the first 2 years. It then changes to our Buy-To-Let Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.8% APRC representative.

What you Pay

  • Daily interest.
  • An arrangement fee of £899 is payable with the application.
  • An application fee of £99 (non-refundable) is payable with the application.
  • A valuation fee is payable.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • £100 cashback for NEU members upon completion.

Who can apply and more information

  • Minimum income of main applicant is £25,000 (£40,000 if joint application).
  • Minimum property value of £75,000.
  • Minimum loan amount £50,000.
  • Not available for houses in multiple occupancy (must be sole occupant, couple or single family unit).
  • Not available for first-time buyers or professional landlords.
  • A single assured shorthold tenancy agreement will be required.
  • Property cannot be let to family members.
  • Available for home purchase and remortgage applications.
  • This mortgage is not portable.

Your home may be repossessed if you do not keep up repayments on your mortgage

Representative Example

A mortgage of £197,194.00 over 29 years initially on a discounted variable rate of 3.49% (equal to a 2.50% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £573.51 and 324 monthly payments of £981.32.

The total amount payable would be £530,362.83 made up of the loan amount plus interest (£331,730.83) with a Application Fee of £99.00, Arrangement Fee of £899.00, Funds Transfer Fee of £25.00, Basic Valuation of £330.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 5.8% APRC representative.

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice