Mortgages · Buy to Let
Finance for landlords, from a single let to a portfolio.
Buy-to-let lending is assessed differently from residential mortgages — rental income, portfolio size and ownership structure all matter. We work with landlords at every stage, from a first rental purchase to complex, multi-property portfolios, in personal names or through a limited company.
Buy-to-let mortgages — key criteria at a glance
- Minimum deposit
- Typically 25% (75% LTV) for standard single residential buy-to-let. HMO and multi-unit properties often require higher deposits. Portfolio lending varies by lender and overall exposure.
- Rental income test
- Lenders stress-test rental income at 125–145% interest coverage ratio (ICR) at a notional rate (often 5–6%). The rent must cover this stressed payment — assessed independently of any personal income top-up in most cases.
- Personal income required
- Not always — some specialist lenders assess on rental yield alone, particularly for experienced landlords. Many lenders require a minimum personal income (typically £25,000+) as a secondary condition.
- Limited company (SPV)
- A smaller but growing lender pool; personal guarantees required from company directors. Can offer tax efficiency for higher-rate taxpayers building a portfolio — discuss with an accountant before structuring.
- HMO and multi-unit
- Specialist product — not available from all lenders. Mandatory licensing required for most HMOs (5+ occupants). Planning compliance and management arrangements factor into lender assessment.
- Portfolio landlords
- 4 or more mortgaged properties triggers PRA affordability requirements — all properties in the portfolio must be evidenced and stress-tested, not just the one being mortgaged.
Criteria and rates correct at time of review, September 2026. Buy-to-let mortgages are not regulated by the Financial Conduct Authority.
Limited company (SPV) buy-to-let
A growing number of landlords buy through a limited company — usually a Special Purpose Vehicle (SPV) set up specifically to hold property — rather than in their own name. The right structure depends on your personal tax position, whether you're building a portfolio and how you plan to use the rental income, so it's genuinely a case-by-case decision rather than one that's automatically right for everyone.
Limited company buy-to-let is a specialist lending market in its own right: fewer lenders operate in it than personal-name buy-to-let, criteria and rates differ and lenders typically require personal guarantees from the company's directors. We regularly place limited company cases, including for portfolio landlords consolidating multiple properties into one structure.
We don't provide tax advice — whether personal or limited company ownership suits you is a conversation worth having with an accountant alongside your mortgage adviser. What we can do is make sure whichever structure you choose is matched to the right lender.
Want a deeper understanding?
Our buy-to-let guide covers stress tests, tax structure, portfolio landlord rules and property type restrictions in depth.
Some of the mortgages we conduct are not of a regulated nature, so the protection offered by regulation is not afforded to such contracts. These are mortgages such as Buy to Lets, some Bridging Loans, Commercial Loans and Development Finance.
Real outcome
Limited company HMO — first-time landlord purchase: buy-to-let mortgage secured for a first-time landlord purchasing an HMO through a limited company SPV. Rental income stress-tested at the lender's ICR; personal income not used in the assessment.
Who this is for
- First-time landlords
- Portfolio landlords (4+ properties)
- Limited company (SPV) buy-to-let
- HMO and multi-unit properties
- Remortgaging an existing rental
- Let-to-buy (renting out your current home)
How it works
Mortgage Passport
Tell us about the property, expected rental income and your plans.
Structure review
Personal or limited company ownership — we help you understand the trade-offs.
Adviser match
A landlord specialist adviser takes on your case.
Agreement in Principle
Move to a formal lender AIP once terms are agreed.
Common questions
- Buy-to-let lenders primarily assess affordability based on the expected rental income from the property, not your personal income — though your income may still be relevant for minimum income thresholds and for some lenders' overall assessments. Most lenders require the monthly rent to cover 125–145% of the monthly mortgage payment, calculated at a notional stressed interest rate. Portfolio landlords (those with four or more mortgaged properties) are subject to additional underwriting requirements.
- Most buy-to-let lenders require a minimum deposit of 25% of the property's value, though some products are available at 20%. A larger deposit typically unlocks better rates and broader lender choice. The deposit requirements for HMO, multi-unit freehold or limited company buy-to-let can differ from standard single-let products.
- There is no single right answer — it depends on your personal tax position, how many properties you own or plan to own and how you intend to use the rental income. Limited company (SPV) ownership can offer tax advantages for higher-rate taxpayers, particularly since Section 24 removed the ability for personal landlords to deduct mortgage interest in full from rental income. However, limited company mortgages can carry higher rates and additional costs. We work through both options with you before making a recommendation.
- Some lenders will consider buy-to-let applications from non-homeowners, though the choice of lender is narrower and terms are often less favourable. Many mainstream buy-to-let lenders require the applicant to be an existing homeowner, whether owned outright or with a mortgage.
- The Prudential Regulation Authority (PRA) defines a portfolio landlord as any borrower with four or more mortgaged buy-to-let properties. Lenders must apply additional underwriting requirements to portfolio landlord applications, including an assessment of the overall portfolio's performance — not just the property being mortgaged. This means applications can take longer and require more documentation, including a portfolio schedule.
How is a buy-to-let mortgage assessed differently from a residential mortgage?
What deposit do I need for a buy-to-let mortgage?
Should I buy to let in my own name or through a limited company?
Can I get a buy-to-let mortgage if I don't own my own home?
What is portfolio landlord status and does it affect my application?
Reviewed by Yazdaan Hussain · CeMAP qualified · LLB
21 August 2026