Buy to let mortgages

We specialise in buy to let mortgages, if you are starting out or growing your portfolio, we have a range of mortgages designed for landlords.

If you are thinking of investing in a buy to let, we have some helpful answers to questions you may have.

What is a buy to let mortgage?

A type of mortgage for a property you are purchasing as an investment to rent to a residential tenant.

View buy to let products

How much rental income could I get?

Our rental yield calculator can help you find out the potential gross rental income as a percentage of your property value.

Calculate rental yield

Are there different types of buy to let mortgage? This will reveal additional content

Yes, at The Mortgage Works we have a range of mortgage products. We offer mortgages for:

Standard buy to let - for individual landlords purchasing or remortgaging a rental property.
First time landlords - for those entering the buy to let market for the first time.
Portfolio landlords - for landlords with 4 or more mortgaged buy to let properties.
Limited Company - for a company set up only for buying, selling and letting property. This is known as a Special Purpose Vehicle (SPV).
Green Further Advances - for existing customers borrowing more to improve the energy performance of a buy to let property. The additional funds can only be used for this purpose.
Let to buy - for homeowners who want to rent out their current home and buy a new one to live in. These mortgages are only available through mortgage brokers or financial advisers.
House in Multiple Occupancy (HMO) - for landlords looking to let a property that is lived in by 5 or more people from 2 or more different households. They will share the facilities within the property.

Buy to let mortgages for holiday lets are not accepted.

Is there a limit to the number of mortgages I can have? This will reveal additional content

How much could my monthly payments be? This will reveal additional content

Our calculator can help you with your research into how much your monthly repayments might be. The calculator allows you to compare two scenarios. Where you can change the mortgage term and interest rate, to help show the difference it will make to your monthly payment.

Can I live in a buy to let property? This will reveal additional content

No, you cannot live in a property with a buy to let mortgage. Living in a property with a buy to let mortgage will breach the terms and conditions of the mortgage. Where this occurs, The Mortgage Works will ask the customer to vacate the property or remortgage to a residential loan.

What loan to value (LTV) is best for me? This will reveal additional content

Loan to value (LTV) is the percentage of the property value you need to borrow. For example, if you have a 25% deposit your LTV would be 75%. This is because you are contributing 25% towards the property and the remaining 75% will be from a mortgage.

For a lower LTV mortgage, rates may be lower compared to a mortgage with a higher LTV.

Eligibility

Who can apply for a buy to let mortgage?

We have no maximum age if you are an experienced landlord, otherwise the maximum age is 70. Our minimum age is 21.
We accept first time landlords and first time buyers if accompanied by an existing property owner.
There is no minimum income, the amount you can borrow is linked to how much the property is let for.

You can read more about eligibility in our summary of lending criteria.

How much can I borrow? This will reveal additional content

Our maximum loan value depends on the deposit amount:

Deposit amount	Maximum loan
20%	Up to £350,000
25%	Up to £750,000
30%	Up to £1,000,000
50%	Up to £1,500,000

More information can be found on our eligibility page.

How much deposit is required? This will reveal additional content

Applying for a buy to let mortgage

1. Consider eligibility

Your eligibility

Check you, as an individual, meet the basic criteria on our eligibility page.

Property eligibility

Make sure the property is in a lettable condition.
The property will not be rented to a family member.
You do not live in the property.

Financial information

Make sure you have the minimum deposit amount of 20%.

If you are not ready to book an appointment and have further questions, you can call our expert team on 0345 607 30 21.

2. Speak to us

To apply for a buy to let mortgage you can get in touch with one of our buy to let mortgage consultants.

Being a landlord

There are rules and regulations that landlords need to follow to protect their tenants. These include:

Having a valid Energy Performance Certificate (EPC) and the rating must be E or higher.
Ensure all gas and electrical equipment is safely installed and maintained.
Protect the tenants deposit in a government approved scheme.
Fit and test smoke alarms and carbon monoxide alarms.

Our news and insights page has a range of information to help simplify complex regulation.