Buy To Let Mortgage for Portfolio Landlord

19th January, 2022

A portfolio landlord, Andrew, who has several BTL’s (Buy to Lets) in the background has called us up with a new project he has found up North.

It is a terraced house divided into 3 separate units, all rented out under 3 separate AST’s (Assured Shorthold Tenancies) and so classed as a multi-unit property. The purchase price of this property is £84,000 and each rental unit is less than 30 sq/m.

The majority of lenders have a minimum value for each unit and also a minimum size and consequently we were very limited to which lender would accommodate this mortgage as an investment of this type is usually aimed at cash buyers. However, after extensive research we found a lender who would accommodate the mortgage of 70% Loan to Value, albeit at a higher interest rate. The monthly repayments would be £352, however, the rental income from the units total £1200 a month and so it would still be a profitable investment which Andrew was happy to invest in.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

We normally charge a fee for mortgage advice. The amount will depend on your circumstances.
A typical fee would be £495 payable on completion. A fee of £100 is payable on application.

Network Mortgages is a trading style of Network Mortgages (South East) Limited which is an appointed representative of PRIMIS. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Network Mortgages (South East) Limited registered in England & Wales Reg No 10439208. The Financial Conduct Authority does not regulate most buy to let mortgages. Network Mortgages (South East) Ltd act as a credit broker not a lender for home and landlords insurance. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to customers based in the UK.

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