Let to Buy

Classified as a first time or experienced landlord applicant who is remortgaging their existing main residence as a Buy to Let and purchasing a new residential property. Please see the Let to Buy section of the product finder for available options.

  • Maximum age 70 at application
  • Maximum 75% LTV
  • Maximum loan size £500,000 (unless otherwise stated)
  • The applicant(s) must have owned and resided in their residential property for at least six months (with or without a mortgage) at the time of application
  • Applications will only be accepted where there is a simultaneous onward purchase of a new residential property (with another lender), address to be supplied before offer and confirmed by the acting solicitor prior to completion
  • The applicant must vacate the security address upon completion (new correspondence address should be provided)
  • If the new residential property is purchased by way of a mortgage – a copy of the onward residential mortgage offer must be provided prior to completion
  • The onward property must be immediately habitable, to be confirmed by either sales literature or a homebuyer/valuation report
  • With effect from 21 March 2016, where the applicant doesn’t already own Buy to Let properties, these customers will be defined as consumers under the EU Mortgage Credit Directive
  • Joint applications, or applications where the onward purchase is in joint names, can only be submitted if the applicants are partners
  • Applicant's main residence must not be listed on the open market for sale or sold STC
  • The same solicitor will be acting on behalf of the applicant for both purchase and remortgage transactions

Applications where the new residential property will be purchased with cash are considered, provided:

  • The current main residence is unencumbered
  • The onward purchase is not a private sale