Buy to Let Mortgages for Portfolio Landlords

As a Portfolio Landlord with 4 or more properties, you’ll know what you need from a Buy to Let mortgage provider.

You’ll require award-winning service from a team with over 20 years’ experience in the Buy to Let lending. An application process where each case is reviewed on merit. A partnership with a dedicated relationship manager who is on hand to support you.

You’ll get all of this and more with The Cumberland - because kinder banking isn’t just words – it’s what we do.

Looking to remortgage?

Do you already have a Buy to Let property? We can help you remortgage if you wish to refinance your property.

Next steps

At The Cumberland, we’re committed to working closely with you to ensure you get the right mortgage to suit your individual circumstances. Ready to take the next step? Contact the Cumberland today to start your journey.

Help and Support

External factors continue to be a cause for concern for many business owners. If you are an existing Cumberland customer and worried about your mortgage, please get in touch or visit our financial difficulties page.

Lending Criteria

Properties can be freehold or leasehold with minimum 85 years unexpired lease at the start of the mortgage term and minimum 50 years unexpired lease at the end of the mortgage term
Annual income of above £25,000 (or £50,000 with 100% rental coverage where top slicing is required)
Standard maximum mortgage term 10 years – exceptions can be considered beyond this term
Background portfolio cannot exceed 20 properties
Maximum 8 individual Society BTL loans per borrower
HMOs can be considered for good quality properties
Tenancy agreement should be on Assured Shorthold Tenancy basis or Private Residential Tenancy Basis in Scotland, with maximum term of 6 months, with any existing tenancy agreement having commenced after 1 March 1997
Your property must have an Energy Performance Certificate rating of E or higher or a suitable exemption for properties in England and Wales

Portfolio Landlords (Individuals or Partnerships)

For products less than 5 years, annual rental income should be minimum 145% of annual mortgage interest at stressed rate of 5.5%, or product rate +2% if higher
For products fixed for a period of 5 years or more, annual rental income should be minimum 145% of annual mortgage interest calculated using the product rate
For remortgages with no additional borrowing, annual rental income should be minimum 145% of annual mortgage interest calculated using the product rate
Where a capital & interest mortgage is required, evidence DCR at 125% coverage with a further check that ICR is met at 145%. Both DCR and ICR must be met

Portfolio Landlords (Limited Companies)

For products less than 5 years, annual rental income should be minimum 125% of annual mortgage interest at stressed rate of 5.5%, or product rate +2% if higher
For products fixed for a period of 5 years or more, annual rental income should be minimum 125% of annual mortgage interest calculated using the product rate
For remortgages with no additional borrowing, annual rental income should be minimum 125% of annual mortgage interest calculated using the product rate
Where a capital & interest mortgage is required, evidence DCR at 110% coverage with a further check that ICR is met at 125%. Both DCR and ICR must be met

Not eligible

Flats/apartments in a block exceeding more than 6 storeys
Limited Companies incorporated outside the UK