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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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Why choose Monmouthshire?
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 between 4 and 20 investment properties
  • Loans of up to £3 million aggregate
  • Available to individual landlords and limited companies
  • Interest only available
  • Up to 75% LTV 
  • Minimum interest coverage ratio of 145% 

Our Portfolio Mortgage Rates

Portfolio Mortgage Rates
Mortgage type Initial interest rate % Overall cost for comparison Maximum loan to value Product fee  
2 Year Discount Rate 3.14% 5.1% APRC 75% 1% More details
5 Year Discount Rate 3.54% 4.7% APRC 75% 1% More details

Portfolio Landlord Mortgages FAQs

What is a Portfolio Landlord?

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.

What is your Portfolio Mortgage Criteria?

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 
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 between 4 and 20 properties with the Society (£3 million aggregate borrowing still applies)
  •  You must have no more than 20 rental properties in your total portfolio at the time of completion - this includes mortgaged and unencumbered (non-mortgaged) properties
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
  • 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 owner occupier
  • 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%
How do I apply for a Portfolio Mortgage?

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

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 Portfolio Buy-to-Let mortgage application to us:

Broker Applications

Can you give me mortgage advice?

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

How much can I borrow?

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.   

 

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:

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