We have years of experience helping landlords with their Buy to Let mortgages and we regularly review our criteria to help ensure you can meet the needs of your clients. We offer:

  • lending up to 75% LTV
  • a maximum loan amount of £1 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)
As a result of your feedback, we have made the following changes to our criteria:
  • gifted deposits now accepted on all BTL applications
  • basic rate tax payers (landlords) now stressed at 125% at 5.5% (5% for 5 year fixes or longer)
  • rental income now accepted for non-portfolio (up to 3 BTLs) cases, this is up to 50% of the net rental income, for portfolio landlords 100% can be included. Evidence with 2 years SA302s shown as net profit.
  • portfolio landlord Interest Coverage Ratio (ICR) reduction,145% at 5.5% (5% for 5 year fixes)

Portfolio landlords

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

  • minimum income of £45k (and net rental income can be included in the total) or £60k for joint applications
  • stressed at 145% @ 5.5% (5% for five year fixed rate terms).
  • completion of our simple portfolio cash flow document [PDF].

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

We’ve created a Guide to Portfolio Landlords to give you some more information about this and our other criteria.

Minimum submission criteria

Our minimum submission criteria for BTL applications is:

  • signed declaration
  • latest full month's payslip
  • latest P60 - required only if using other income from employment in addition to basic income
  • evidence of income &ndash: Accountant’s Certificate or latest 2 years' accounts or latest 2 SA302 plus latest 1 year accounts if self-employed or using rental income
  • latest month’s bank statement
  • Cash flow document [PDF] (for portfolio applications; replaces asset and liability statement)

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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