The largest buy to let lenders are probably not mortgage lenders that most people will be familiar with.
These buy to let lenders design their products around the needs of the landlord. They are frequently the best choice because their interest rates are competitive and they are accommodating in their lending criteria.
The best buy to let schemes and lowest buy to let interest rates are often the preserve of this group of specialist lenders.
The best buy to let deals are often only available through mortgage brokers such as ourselves. This is due to the large volumes of business that we submit which enable us to obtain discounted rates
We have listed below some of the larger buy to let lenders:
Birmingham Midshires
Part of the Halifax - Bank of Scotland group of companies. One of the more efficient lenders. Birmingham Midshires will lend up to 75% of value. A mortgaged portfolio of up to £5 million can be held within the HBOS group of companies
Birmingham Midshires require that the main applicant earns at least £25,000 pa.
Birmingham Midshires require that the rental income should exceed 125% of the interest only mortgage payments calculated at the pay rate
Birmingham Midshires offer a range of exclusive mortgages that are only available through mortgage brokers - please contact us for details of their current mortgages
The Mortgage Works
Part of the Nationwide - Portman Group.
One of the more efficient lenders. The Mortgage Works will lend up to 80% of value.
They will lend against HMO's - houses in multiple occupation. they will also lend to Limited companies - Companies set up for the sole purpose of managing a portfolio of property
The Mortgage Works do not have a minimum income requirement.
The Mortgage Works require that the rental income should exceed 125% of the interest only mortgage payments calculated at the pay rate
The Mortgage Works offer a range of exclusive mortgages that are only available through mortgage brokers - please contact us for details of their current mortgages
Mortgage Express
Part of the Bradford and Bingley Group.
There is no minimum income requirement, but Mortgage Express require a 3 year continuous employment history.
Mortgage Express require that the rental income should exceed 125% of the interest only mortgage payments calculated using the charge rate or 120% of any 5 year fixed rate.
Mortgage Express will lend against properties that will be let to students.
Mortgage Express are not currently accepting new business
Mortgage Trust
Part of the Paragon Group. Mortgage Trust have recently returned to buy to let lending
Mortgage Trust are targeting non-professional landlords - people whose main income derives from other than property.
Mortgage Trust offer a range of exclusive mortgages that are only available through mortgage brokers - please contact us for details of current products
Platform Home Loans
Platform Home Loans is a specialist lender that is part of the Britannia building Society.
They will lend up to 75% of value against buy to let properties.
Platform Home Loans require that the rental income should exceed 125% of the interest only mortgage payments calculated using their standard variable rate or any 3 year charge rate.
Platform Home Loans offer a range of exclusive mortgages that are only available through mortgage brokers - please contact us for details of current products
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