Buy to Let Mortgages

We offer:

• lending up to 75% LTV
• a maximum loan amount of £1.5 million per case
• no charge for a mortgage valuation for mortgage purposes where the property is worth less than £1.5 million on all BTL applications – purchase and remortgage
• lending to individual landlords with portfolios of up to ten properties (maximum of five mortgaged with Skipton)
• gifted deposits accepted on all BTL applications
• basic rate tax payers (Landlords) stressed at 125% at the higher of; product rate plus 2% or 5.5% (or at the higher of; product rate plus 1% or 5.5% if taking a fixed product of 5 years or more)
• 100% of rental income can be used (UK Land and Property Income as shown on SA302, 2 years SA302s will be required).

Portfolio landlords

For BTL landlords with portfolios of four or more mortgaged BTL properties, the following criteria apply:

• minimum guaranteed earned income of £45k (and net rental income can be included in the total) or £60k for joint applications
• stressed at 145% at the higher of; product rate plus 2% or 5.5% (or at the higher of; product rate plus 1% or 5.5% if taking a fixed product of 5 years or more)
• any background properties will be assessed at 145% at 6%
• completion of our simple portfolio Cash Flow Document [PDF].

Any of our BTL products can be used for portfolio landlords.

Free EPC Plus home energy report for Skipton members

If your client has a Skipton savings or mortgage account they can have up to 10 free EPC Plus Home Energy Reports for the Residential or Buy-to-Let properties they own.

The EPC Plus Home Energy Report offer is available to home-owning members of Skipton Building Society, for homes constructed more than 10 years ago. See our full offer Terms and Conditions [PDF].

EPC Plus is provided by Vibrant Energy Matters Limited, who are owned by Connells Limited, part of the Skipton Group. EPC Plus is not regulated by the Financial Conduct Authority.

Buy To Let calculator

When assessing BTL cases we will use the following calculations:

Portfolio Landlords/Higher Rate Tax Payers

A stress rate of 145% at the higher of; product rate plus 2% or 5.5% will apply (or at the higher of; product rate plus 1% or 5.5% if a fixed product of 5 years or more is required).

For Portfolio BTL landlords any background properties will be assessed at 145% x 6%.

Basic/Nil rate taxpayers

A stress rate of 125% at the higher of; product rate plus 2% or 5.5% will apply (or at the higher of; product rate plus 1% or 5.5% if a fixed product of 5 years or more is required).

Additional Borrowing

The following stress rates will apply (irrespective of product selected):

• Higher rate taxpayers/Portfolio Landlords - 145% at the higher of; product rate plus 2% or 5.5%.
• Standard rate taxpayers - 125% at the higher of; product rate plus 2% or 5.5%.

Do not use this calculator if top-slicing is required. Please refer to our separate top-slicing criteria within the A-Z Lending Criteria.

Minimum submission criteria

Once you have submitted your application online please check the 'Outstanding Items' list in eMortgages to determine what documents you need to forward to us.

For full details of our Buy to Let lending criteria please see our A-Z Lending Criteria.

To find out more about how we can help your clients with their BTL requirements, contact your local BDM or get in touch with our team.

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