Savings
Whether you’re looking for instant access, annual bonuses or tax-free savings, we have an account that will help you achieve your savings goals.
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Mortgages
Whether you’re looking to buy your first home, move somewhere bigger, or simply get a better deal, we can offer a mortgage that suits you.
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Help
Need help? Take a look at our FAQs section for some guidance.
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About Us
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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Why choose Monmouthshire?

Customer Update: Tuesday 9th August 2022

If you’re looking for a new mortgage, please contact your current broker, if you have one. Alternatively, visit unbiased.co.uk where they can search independent, regulated advisers in your area. They’ll be able to discuss your needs and circumstances to help you find the right mortgage. 

If you’re an existing mortgage member, and are looking to make a change to your mortgage or borrow additional funds, please visit Existing Borrowers | Monmouthshire Building Society (monbs.com)

You want getting a mortgage to be simple

We allow you to mortgage multiple investment type properties under one loan.

You have a diverse portfolio

We accept portfolios with any mix of Buy-to-Let, Holiday Let, HMO and Multi Unit Freehold properties.

You want flexibility

Our maximum loan to value and minimum interest coverage ratio can be assessed across your whole portfolio.

We also offer the flexibility to add, substitute and remove properties from the loan in the future, subject to further assessment of the portfolio.

Our Portfolio Mortgages

  • Mortgage up to 20 investment properties
  • Loans of up to £3 million aggregate
  • Available to individual landlords and limited companies
  • Interest only/mixed repayment available
  • Up to 75% LTV 
  • Minimum interest coverage ratio of 145% 

Our Portfolio Mortgage Rates

Product Type Initial Interest Rate % Overall Cost For Comparison Maximum Loan To Value Product Fee  
Lifetime Discount 5.90% 6.2% APRC 75% 1% of the loan amount More Details

All our mortgages move onto our Standard Variable Rate after the initial rate period. Our Standard Variable Rate is currently 8.39%. If our Standard Variable Rate changes, your monthly repayments could go up or down. 

Portfolio Landlord Mortgages FAQs

The Prudential Regulation Authority defines a portfolio landlord as a landlord that has 'four or more distinct mortgaged Buy-to-Let properties either together or in aggregate'.

At Monmouthshire Building Society, we recognise that many landlords are diversifying their portfolios further than traditional Buy-to-Let and choosing to invest in other types of rental properties. That's why we allow landlords to mortgage portfolios containing any mix of Buy-to-Let, Holiday Let, HMO and Multi Unit Freehold properties.

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

Lending Area
  • England and Wales (including Isle of Wight, excluding Channel Islands)
Maximum LTV
  • 75% LTV (subject to product availability)
  • The LTV calculation can be made either individually per security or can be assessed across the whole portfolio
Loan Size
  • Minimum loan: £40,000
  • Maximum loan for any single property: £1,000,000
  • Maximum combined loan for multiple properties: £3,000,000
  • Please note product specific minimum and maximum loan sizes may apply.
Number of Properties
  • Mortgage up to 20 properties with the Society (£3 million aggregate borrowing still applies)
Term
  • Minimum Term: 5 years
  • Maximum Term :40 years
Applicant(s)
  • Individual or Limited Company Landlords
  • Maximum of 4 individual applicants, or 1 limited company with maximum of 4 directors (equating to 100% shareholding)
  • Must be UK based
  • Minimum age 21
  • Maximum age 85 at the end of the mortgage based on the oldest applicant
  • Each applicant/director must be an existing home owner
  • At least 1 applicant/director must have a minimum of 2 years landlord experience
  • At least 1 applicant/director must have a minimum income from employment, self-employment or pension of £25,000. Profits from rental are acceptable provided these are verified via 2 years SA302s.
  • Assessments will be carried out on both the company and the individual(s)
Property Type
  • Buy-to-Let
  • Holiday Let
  • House of Multiple Occupancy (HMO) up to 6 bedrooms
  • HMOs should be licensed with the Local Authority
  • Multi Unit Freehold up to 4 flats
  • Lending limited to 20% exposure of any residential development, apartment block or properties within the same street
  • Minimum property value of £60,000 for Buy-to-Let
  • Minimum property value of £150,000 for HMO, Multi Unit Freehold, Holiday Let
Tenancy Guidelines
  • Buy-to-Let: The property should be let under a single Assured Shorthold Tenancy agreement (AST) of no less than 6 and no more than 12 months
  • HMO: Where HMO has up to 4 tenants they may all be on one AST or have individual ASTs for each tenant. Where HMO has more than 4 tenants each tenant should have an individual AST.
  • Holiday Let: No formal agreement should be in place, short term lets only including Airbnb
Rental Coverage
  • We usually ask for 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
  • As this will be a portfolio, then the ICR can be calculated cumulatively across the property portfolio. The whole portfolio must self-fund at 145%

Simply submit our enquiry form and we'll be in touch to discuss our application process and answer any questions you may have:

Enquire Now

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

Broker Applications

Our portfolio mortgages are non-regulated, which means we do not provide mortgage advice to portfolio landlords.

Although we cannot give you any advice, our Portfolio Mortgage Team will be happy to take you through our Portfolio product range and explain our application process in detail. 

We will provide you with information to make your own decision as to which product is right for you.

Make an Enquiry

Our maximum loan size is £1 million per property and £3 million in total, however we will also assess how much you can afford to borrow based on the rental income of your portfolio.   

 

Loans available to persons aged 21 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.

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 to discuss how we can help:

How we use your personal information

We will only use the data entered above for the purpose of contacting you to arrange an appointment. For more information about how we handle your data, please visit our privacy page.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.

Useful Resources

About Us

Mortgages

Mortgage Calculators

Savings

Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052. FCA register address www.fca.org.uk/register/. We are members of the Financial Services Compensation Scheme. We are members of the Building Societies Association and Council of Mortgage Lenders. Details of our Customer Satisfaction and Complaints procedures are available and complaints that we cannot resolve may be referred to the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/). By accessing any part of this website, you shall be deemed to have accepted our Website Terms of Use.
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