Mortgages for landlords
Just because your property portfolio is growing, doesn’t mean your mortgage payments have to.
A portfolio landlord mortgage allows you to place all your Buy to Let Mortgages under one mortgage, so that, rather than having separate mortgage lenders for each property, your whole portfolio is looked after by one mortgage lender, requiring one monthly payment. You’re considered a portfolio landlord if you have 4 or more mortgaged rental properties, such as those owned in your name, or through a limited company.
Here at Derbyshire Mortgages and Protection, our mortgage advisers will help you to secure an interest only or repayment mortgage for your property portfolio – whether that includes flats, houses, investment property or company property.
FAQ
The maximum number of properties in a landlord’s portfolio will vary from lender to lender. Ten properties are a fairly common restriction however some lenders, will offer a more flexible approach and instead of a maximum number will stipulate that the Interest Cover Ratio (ICR) from every property within the landlord’s portfolio is above 100%.
Yes, as a portfolio landlord there are additional underwriting checks to go through and additional documentation to provide. In addition, some more mainstream lenders will place restrictions on the portfolio size, the overall loan to value, or the maximum level of debt. These requirements will differ from lender to lender and typically it will be a specialist lender that will accommodate the larger portfolio landlord.