TAILORED BUY-TO-LET MORTGAGE SERVICE FOR BROKERS

We offer buy-to-let mortgages for both individual and limited company borrowers
For all enquiries please contact us on
(01228) 403 141

PORTFOLIO LANDLORD BUY-TO-LET MORTGAGES

Loan size

Maximum loan £5m

Minimum loan £250,000

Minimum property value £100,000

Arrangement fee

Arrangement fee can be added to mortgage subject to LTV

Income criteria

For individual/partnership borrowers, portfolio income to provide minimum ICR of 145% at higher of 5.5% or pay rate +2%

For Ltd Company borrowers, portfolio income to provide minimum ICR of 125% at higher of 5.5% or pay rate +2%

Capital overpayments

Capital overpayments of 10% per year allowed during any early repayment charge period

Lending area

We do not lend on properties located outside England, Scotland or Wales or located on islands off the UK except Anglesey, Arran, Isle of Wight, Mull, Skye or Harris

Scroll down for available products

Term

Maximum term 10 years

Portfolio size

Background portfolio cannot exceed 20 properties

Maximum 8 individual Cumberland mortgages per borrower

Tenancy

No tenancy voids or HMOs

All properties to be let via AST (PRT in Scotland)

Buy-To-Let Deals for Portfolio Landlords

3 YEAR DISCOUNT

Your interest rate tracks our Commercial Variable Base Rate (CVBR), currently 5.24%, less the discount shown for the first 3 years, followed by our CVBR until the end of the mortgage.

Loan To Value Initial interest rate for 3 years Overall cost for comparison Discount from CVBR Follow on rate Fee
Up to 60% Up to 60% 3.40% 3.40% 4.9% APRC 4.9% APRC 1.84% 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (3.00% before the end of year 1, 2.00% before the end of year 2 and 1.00% before the end of year 3 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £80,000 payable over 20 years initially on this variable rate product for 3 years at 3.40% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 36 monthly payments of £459.87 and 204 monthly payments of £527.81.

The total amount payable would be £125,179 made up of the loan amount plus interest (£44,229) and arrangement fee (1% of mortgage amount).

The overall cost for comparison is 4.9% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 65% Up to 65% 3.75% 3.75% 5.0% APRC 5.0% APRC 1.49% 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (3.00% before the end of year 1, 2.00% before the end of year 2 and 1.00% before the end of year 3 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £80,000 payable over 20 years initially on this variable rate product for 3 years at 3.75% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 36 monthly payments of £474.31 and 204 monthly payments of £529.98.

The total amount payable would be £126,141 made up of the loan amount plus interest (£45,191) and arrangement fee (1% of mortgage amount).

The overall cost for comparison is 5.0% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Call us on (01228) 403 141

BUY-TO-LET MORTGAGES FOR LIMITED COMPANY BORROWERS

All loans and product fees individually priced

Applicants

Not available to customers who have 4 or more mortgaged properties - refer to Portfolio Landlord criteria above.

Loan size

Maximum Loan £5m

Minimum loan £30,000

Minimum property value £100,000

Arrangement fee

Arrangement fee can be added to mortgage subject to LTV

Maximum LTV

Maximum 75% LTV (65% for properties in Greater London)

Term

Maximum term 25 years (C&I) or 20 years (IO)

Income criteria

Letting income to provide minimum ICR of 125% at pay rate + 2% (minimum 5.5%)

Background income from other sources may be taken into account where ICR is lower than 125%

Capital overpayments

Capital overpayments of 10% per year allowed during any early repayment charge period

Tenancy

6 month AST

Application form
For Limited Companies & Limited Liability Partnerships
Download (PDF)
Operating area map - whole area
Where We Lend

We provide these mortgages on properties throughout England, Scotland and Wales.

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Your mortgage is secured on your property. Think carefully before securing other debts against your property. Your property may be repossessed if you do not keep up repayments on your mortgage.