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What is a BTL mortgage?

A BTL mortgage is used to finance the purchase of a property with the intention to let it out to rent paying tenants ideally on a short hold tenancy agreement. You may well have a number of this type of mortgage already and probably with a number of different lenders and/or deals. Some lenders place no limit on the number of BTL mortgages any one landlord could have, as long as the numbers pass their assessment criterias.

When a lender considers a BTL application there are very different considerations to assess than with a standard residential mortgage. They may want to assess your income, as with any standard mortgage, but will also assess the forecasted rental income expected from the soon to be purchased/remortgaged property. How they assess this will differ from lender to lender and also dependent on the status of you the applicant. The lender needs to satisfy themselves that you will be able to pay any mortgage payments due through periods of prolonged necessary maintenance and when the property has no tenants paying rent. These considerations maybe something you should also consider.

Your Lawrie Mortgages adviser will guide you through the BTL mortgage maze helping to ensure you opt for the mortgage that best suits your current circumstances. They will also take into consideration any future plans you may have for your property rental business, however many, or few, properties you currently have.

Having the advice of a capable, whole of market specialist broker, such as Lawrie Mortgages, could prove invaluable at a time when the regulatory and operating landscape for the buy to let business seems to be undergoing major structural changes.

Before application considerations

Your status

  • First time landlord buying your first investment property
  • Existing landlord with 3 to 5 properties
  • Professional portfolio landlord with many properties
  • One of the above managing your properties through a special purpose vehicle (SPV's) limited company

Whatever your status Lawrie Mortgages can help.

Your income

Dependent on your status, the majority of lenders will require a verifiable minimum household income, particularly if top slicing is required to make up any shortfall in their rental assessment. Your Lawrie Mortgages adviser will guide you through any income requirements that may be required to support to any application.

Property type

Houses of multiple occupation (HMO) is a property type that not all lenders will consider and, depending on where the property is situated, can fall within additional rules and requirements as set out by the local authority. Your Lawrie Mortgages adviser can help you with HMO's as well as new builds, holiday lets and freehold vs leasehold properties.

Rental income

BTL lenders will assess rental income to the mortgage payments. All lenders have slightly different ways of doing this. Your Lawrie Mortgages adviser will ensure the lender opted for will fit your requirements and help you to ensure your rental forecast is realistic. This is because any instructed valuer will make rental assessment part of his property valuation report for the lender.

Commercial lending and most buy to let arrangements are not regulated by the FCA.

What next?

Lawrie Mortgages are a specialist broker and able to compare the whole BTL mortgage market. This enables us to access specialist BTL lenders that may have assessment criterias that better suit your application status. We also have access to exclusive deals that could enhance your overall portfolio return.

You can start your enquiry by arranging a callback or call us on

0121 616 0216