Buy to Let Mortgages for Amateur Landlords (Sole Traders & Partnerships)

Have you found the ideal Buy to Let property? Perhaps you’ve inherited a property that you don’t want to sell? A Buy to Let mortgage is a way of taking out a loan for a property that you own, but don’t live in.

If you’re new to the process or unsure whether you’ll be accepted, arrange an appointment to speak with us in person. We review each application individually. And, as a Sole Trader or Partnership with 3 or less properties, you’ll love our customer focused service, where a real person is on hand to offer the advice you need, when you need it.

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? Book an appointment with The Cumberland today to start the 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
Required to be a homeowner or living with a partner who is a homeowner, in employer supplied accommodation or own other investment properties
Annual income of above £25,000 (or £50,000 with 100% rental coverage where top slicing is required)
Maximum mortgage term 30 years
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
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

NOT ELIGIBLE

Flats/apartments in a block exceeding more than 6 storeys
Must be a resident in the UK