Buy to Let FAQs

What proof of income is required?
  • Personal income from an experienced landlord (owner occupier) will not be required on joint applications.
  • Employed applicants: Latest payslip
  • Self employed applicants: Latest SA302 (self assessment tax calculation form)*

*if SA302 is not available an accountant's reference can be accepted. Please contact us with accountants' details in order for us to request.

Is proof of income required for a Let to Buy?

Where the applicant is using the lower 125% ICR, proof of personal income is required, but in all other cases we don’t normally need this.

Please note, if we do need to see proof of personal income for another reason then we’ll ask you to send this to us.

Will we lend on a let to buy scenario if there is no forward purchase?

No. There must be a simultaneous residential forward purchase and we require solicitor's confirmation of this.

How do we define an experienced landlord?

An applicant that currently owns a residential property that has been rented for at least the last 6 months with an Assured Shorthold Tenancy, or either a Short Assured Tenancy or a Private Residential Tenancy in Scotland.

Will we lend to first time buyers?

FTBs as a sole applicant are not accepted. Applications can be considered where a FTB is purchasing jointly with a first time or experienced landlord.

Application combinations accepted
Applicant 1
First Time Buyer
First Time Landlord
First Time Buyer
First Time Landlord
Will we lend to ex-pats?

No. The applicant would need to have returned to the UK for at least 3 years before they can apply for a BTL mortgage with us.

Will we lend on inter family sales?

No, the applicant cannot be related to the vendor. Family is defined as spouse, parent, brother/sister, child, grandparent or grandchild.

Will we lend to an applicant if they have a family member renting the property?

No. Family is defined as spouse, parent, brother/sister, child, grandparent or grandchild.

What is the maximum LTV on houses in multiple occupation (HMO) applications?

75% LTV. Available to experienced landlords only (see above).

Is there a maximum number of BTL properties an applicant can own?

No. But we look at the exposure of their properties to ensure they are not concentrated into one street, area or development.

How do we view exposure in a development?

The maximum number of securities that can be considered per development is:

  • 1-3 units: 1 unit
  • 4-50 units: 25%, rounded down to the nearest unit
  • 51-80 units: 12 units
  • More than 80 units: 15%, rounded down to the nearest unit

These exposure limits are per applicant and include securities mortgaged to other lenders.

Is there a maximum loan limit, per property and aggregate debt?

Total BTL borrowing with Nationwide Group (including new loan)
Max LTV on new property
Up to £500,000
£500,001 - £750,000
£750,001 - £1,000,000
£1,000,001 - £1,500,000
£1,500,001 - £5,000,000

We hope we have answered the most common questions above, but if you’re still unsure about something, you can contact one of our experienced advisers on Broker Chat.