What is a specialist buy to let mortgage?
It is a solution for landlords with complicated rental property deals that regular lenders cannot assist with.
As a specialist buy to let broker, we have access to a range of providers who can assist with cases that traditional lenders may struggle to help with.
Key features of our panel include:
- Terms from 1 to 40 years
- Interest-only and capital repayment options available
- Personal names and limited companies accepted
- First-time buyers and landlords welcome
- Fixed and variable rates available
- Experienced and portfolio landlords accepted
- Solutions for standard properties, HMOs, MUFBs and holiday lets
To get started, submit an enquiry through the online form above or give us a call today to see if we can help you.
When might you need specialist buy to let mortgages?
A complex buy to let mortgage may be needed in the following situations:
- Income issues: If it's hard to judge how reliable the rental income will be, making it difficult for high street lenders to assess your ability to manage loan repayments.
- Borrower circumstances: If you have bad credit, or if you’re a first-time buyer or landlord, traditional lenders may find it harder to approve your application.
- Complex company structures: If you're applying for a limited company buy to let mortgage and your company setup is complex, traditional lenders may struggle to help you.
- Property type: If the property is more complex, such as HMOs, multi-unit freehold blocks, or holiday lets, high street lenders may not be able to provide the necessary support.
By working with our experts, you'll gain access to a range of lenders who can help with these situations and more. We may not be able to help with every case, but we’ll do our best to try and find an option from our trusted panel of lenders.
Who is eligible for a specialist buy to let mortgage?
Eligibility can vary by lender, so you might qualify with one but not another.
In general, you must be at least 18 years old to apply. The deposit needed is usually higher than for residential mortgages. Many lenders want at least 20% to move forward with your application.
Lenders usually want your rental income to cover 125% to 145% of your monthly mortgage payments. This is to ensure the property makes enough money to pay the loan. For example, if your monthly mortgage payment is £800, the lender will expect the rent to be at least £1,000 per month.
Get Started
Call us for FREE on 0800 032 4646 or enquire using the form below.
Don't forget – making an enquiry will not affect your credit rating in any way!
How much can I borrow with a specialist buy to let mortgage?
Our lenders offer loans ranging from £10,000 with no limit on the maximum borrowing amount. However, the amount you can borrow depends on your situation.
Lenders want to ensure you can pay back the loan each month. Therefore, they will check several factors to decide how much you can borrow and whether to accept you. These may include:
- Credit profile.
- The expected rental income from the property.
- Your experience as a landlord.
- Rental coverage.
What interest rate might I get on a specialist buy to let mortgage?
Interest rates can vary depending on the type of product, the market, your circumstances, and the lender.
Generally, lenders base the interest rate on how much financial risk you present. The higher the risk, the higher the interest rate is likely to be. Lenders will look at different factors to decide, which could include:
- The general market.
- Predicted rental income.
- Landlord experience.
- Type of product.
- Rental coverage.
Why use The Loans Engine for your specialist buy to let mortgage?
We will take care of everything for you - We will try to find the right loan and manage all communication with the lender. This may save you time and could reduce the stress of the process.
Award-winning service: We have won the Feefo Platinum Trusted Service award for four years. This shows the high quality of our service and the positive experiences our customers have with us.
Access to great lenders: Over the years, we’ve built strong relationships with trusted lenders. We know which lenders are likely to approve your application and we'll focus on connecting you with them. This saves you time by helping you avoid those that may not be a good fit.
How do I apply for a specialist buy to let mortgage?
Applying is simple and similar to other loans. Here’s what to do:
- Step 1: Decide how much money you need for your investment.
- Step 2: Make an enquiry through the online form above or by calling us.
- Step 3: Our team will search our database to try and find a suitable deal for you. If we find a good match, we'll let you know.
- Step 4: If you want to proceed, we will reach out to the lender. We will let you know what paperwork is needed to set it up for you.
That’s it! We’ll manage the rest of the process and keep you updated on when you’ll get your funds.
