- Portfolio Landlords Considered
- To 85% LTV
- No Business Plans Required
- Low Rental Yield Considered
- Interest Only & Repayment
- HMO Licenses Considered
- Personal Income Considered
Portfolio Landlord Mortgages
Over the last few years, the Regulator introduced new guidelines for lenders aimed at reducing the risk of landlords overstretching themselves on buy to let mortgages.
Generally speaking, a portfolio landlord, is a landlord that has 4 or more mortgaged buy to let residential properties. This includes any new mortgage to be arranged.
Anyone designated as a portfolio landlord would typically have to meet more stringent lending criteria and need to demonstrate the robustness of their current buy to let portfolio through portfolio loan to value ratios and portfolio rental income cover stress tests etc.
At Rockhopper we work with a number of lenders who are happy to consider Portfolio Landlords. Some of the lenders we work with are able to ignore the background buy to let portfolio as long as the rental income currently received covers the mortgage payments. Additionally, some lenders are able to offer low rental income stress tests for the new mortgage if, for example, a 5 year fixed rate is being requested.Read More >>
Clients have told us that they may have approached their own Bank/Building Society for a buy to let mortgage and have been declined as they are a “Portfolio Landlord”.
Clients approaching us to arrange a buy to let mortgage as a portfolio landlord are often frustrated, that although their plans make sense, they have spoken to a number of lenders who will simply not consider a mortgage because of their portfolio landlord status and/or their property portfolio.
At Rockhopper we understand that every case is different and that no clients are ever the same. That is why we apply a common sense approach to assessing whether we can assist.
If you would like to see whether we can help you raise a buy to let mortgage as a portfolio landlord, do get in touch for a free no obligation quotation.