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About
Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Buy-to-Let Mortgages
We’ve been supporting landlords with Buy-to-Let mortgages for over a decade.
  • Buy-to-Let mortgages for properties across England and Wales
  • Up to 75% LTV
  • Mixed Repayment and Interest Only loans available
  • We lend up to age 85
  • First time landlords considered
  • Named Best Specialist Mortgage Provider at the British Bank Awards 2020
We won the UK Best Service From a Mortgage Provider award at the 2020 Moneyfacts awards Highly Commended for the UK Regional Lending Provider of the Year Award at the 2020 Moneyfacts Awards

Buy-to-Let Mortgage FAQs

What Is Your Buy-To-Let Mortgage Criteria?

The criteria below applies to standard Buy-to-Let mortgages only. Our standard Buy-to-Let mortgages are for landlords who will have 3 or less mortgaged properties on completion, and own their Buy-to-Let properties as an individual.

The information is intended to give you an idea of your eligibility for our Buy-to-Let mortgages. Meeting the below criteria is not a guarantee of acceptance, your application will also be subject to additional underwriting criteria, credit checks and assessment of a suitable property.

LENDING AREA
  • England and Wales (including Isle of Wight, excluding Channel Islands)
MAXIMUM LTV
  • 75% LTV (Minimum deposit of 25% of property value required)
LOAN SIZE
  • Minimum loan: £40,000
  • Maximum loan for any single property: £1,000,000
  • Maximum combined loan for multiple Buy-to-Let properties: £3,000,000
  • Please note product specific minimum and maximum loan sizes may apply
NUMBER OF PROPERTIES
  • We can lend on up to 3 properties
  • To be eligible for our standard Buy-to-Let mortgages, you must have no more than 3 mortgaged Buy-to-Let properties on completion across all lenders
TERM
  • Minimum Term: 5 years
  • Maximum Term: 40 years
APPLICANT(S)
  • Minimum age 21
  • Maximum age 85 at the end of the mortgage based on the oldest applicant
  • Each applicant must be an existing home owner
  • One applicant must have a minimum income of £25,000 that is not derived from rental income
  •  We will consider lending to first time landlords
RENTAL COVERAGE
  • We require a minimum rental coverage of 145% of the mortgage interest payment, using an interest rate of 5.5% OR the initial pay rate plus 2%, whichever is greater.
  • We will use whichever is lower out of the actual rental income or the valuer’s rental assessment.
  • Our Buy-to-Let calculator will help you work this out – simply put in how much you’d like to borrow and it will give you an idea of how much rent you need to earn to meet the rental coverage (based on an interest rate of 5.5%).
Buy-to-Let Calculator
TENANCY GUIDELINES
  • The property should be let under a single Assured Shorthold Tenancy agreement (AST) of no less than 6 and no more than 12 months, with a maximum of 4 individuals on a single tenancy agreement.
How Do I Apply For A Buy-to-Let Mortgage?

Step 1: Make an Enquiry

The first step to getting a Buy-to-Let mortgage is submitting our enquiry form.

Step 2: We’ll Call You

After submitting your enquiry, you can usually expect to hear from us within 2 working days.

During this initial phone call we will discuss your requirements and set up an appointment with one of our Mortgage Advisers. Our Mortgage Advisers are available for telephone or branch appointments, with evening and weekend appointments available.  

Step 3: Your Mortgage Appointment

During your appointment, your Mortgage Adviser will provide you with information on the products available and answer your questions on a non-advised basis. If you wish to proceed, they will help you submit your application.

Start the process today by making an enquiry:

Enquire Now

I’m A Mortgage Broker – How Do I Submit An Application For My Client?

Please see our Intermediaries website for details of how to submit a Buy-to-Let mortgage application to us:

Broker Applications

How Much Can I Borrow?

This depends on several factors, such as:

  • The lender’s minimum and maximum loan size
  • How much you can afford to borrow - the lender will carry out an affordability assessment based on your circumstances, such as income and employment status
  • The type of property and its expected rental income

Buy-to-Let Mortgage Calculator

For a rough idea of how much you might be able to borrow based on rental coverage, simply put the monthly rental income into our Buy-to-Let Mortgage Calculator:

Buy-to-Let Calculator

 

How Much Deposit Do I Need?

This depends on the Loan to Value (LTV) of the mortgage.

Our Buy-to-Let mortgages are available up to 75% LTV, so you will need a deposit of at least 25% of the property value.

Can You Give Me Buy-To-Let Mortgage Advice?

Our Buy-to-Let mortgages are investment type property loans, which means they are not regulated by the Financial Conduct Authority.

Because they are unregulated, we sell our Buy-to-Let mortgages on a non-advised basis.

This means that, unlike our residential mortgages, you will not receive a recommendation on the suitability of your mortgage based on your individual needs and circumstances. 

Although we cannot provide advice, our Mortgage Advisers will be happy to take you through our product range and explain our application process in detail. 

We will provide you with information to make your own decision on which Buy-to-Let product is right for you.

Speak to an Adviser

Our Buy-to-Let Mortgage Rates

The rates below are for standard Buy-to-Let mortgages only.

Our standard Buy-to-Let mortgages are for individual landlords who will have 3 or less mortgaged Buy-to-Let properties on completion (We have separate mortgage products for Portfolio Landlords and Limited Companies).

As with all our mortgages, acceptance is also subject to eligibility, lending criteria and any product specific criteria.

Purchase - 5 Year Fixed
Initial interest rate % Overall cost for comparison Maximum loan to value Product fee Additional Features  
2.70% 4.0% APRC 75% £499

Mixed Repayment / Interest Only Available

More details
2.85% 4.0% APRC 75% None

Mixed Repayment / Interest Only Available

More details
Remortgage - 5 Year Fixed
Initial interest rate % Overall cost for comparison Maximum loan to value Product fee Additional Features  
2.80% 3.9% APRC 75% £499

Mixed Repayment / Interest Only Available

More details
3.00% 4.0% APRC 75% None

Mixed Repayment / Interest Only Available

More details

Most Buy-to-Let Mortgages (investment type property loans) are not regulated by the Financial Conduct Authority.

IF YOU FAIL TO KEEP UP WITH PAYMENTS ON YOUR MORTGAGE A ‘RECEIVER OF RENT’ MAY BE APPOINTED AND/OR YOUR RENTAL PROPERTY MAY BE REPOSSESSED.

Make an Enquiry

Simply fill in the form below and we'll be in touch within the next few days:

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