Mortgage TypeBuy To Let
Property Value (min)
- Standard property £50,000.
- HMO /MUFB £150,000 in LSE, £100,000 outside LSE.
- Ex-local Authority £150,000 in LSE, £75,000 outside LSE.
- Properties above or adjacent to commercial £100,000.
- Freehold property conversions £150,000 in LSE, £100,000 outside LSE.
- Other restrictions may apply.
Up to £2,000,000 however restrictions do apply for certain property types
Term (Max)30 years
Minimum Age21 years (25 years for first time landlords).
Maximum Age95 years at end of term, 89 years at application.
Family Cash Gift DepositAccepted – immediate family only
Family Gift of Equity DepositWe do not accept gifted equity, but we are able to consider gifted deposit where there is no money changing hands.
Income (min)£15,000 (£25,000 for first time landlords).
RestrictionsNot accepted (minor restrictions considered refer to BDM)
Let to Buy (Turning Residential into Buy to Let)No
Ex-Local Authority PropertiesYes
Minimum years remaining on leasehold property75 years
Minimum OwnershipWithin 6 months, provided land registry has been updated.
Permanent rights to reside and remainYes
Ex-PatriatesNo. Applicants must be resident within the UK for the past 3 years.
Credit ScoreSoft footprint on DIP hard at full app Equifax
Standard products rental calculations, including standard HMO and MUBs, are based on 125% for standard rate tax payers and 145% for higher rate tax payers.
All limited company rental calculations, including for HMO and MUB products, are based on 125%.
Please refer to Fleet Mortgages Product Guide for more details on payrate calculations
Historic CCJ’s & DefaultsIf within the last 3 years, we are able to accept status 1 and 2, as well as any CCJs and defaults under £250.
No CCJs or defaults (either satisfied or unsatisfied) greater than £250 within the last three years.
No credit file to be, at any point within the last three years, more than two payment (>2months) in arrears
Valuation FeesFree valuation fees offered on standard BTL properties valued under £500,000. For properties over £500,000 or for HMO/MUFB, please see the Fleet Mortgages Product Guide for further information as this is subject to change. (Jan 2023)
Maximum number of applicants4
CountriesEngland and Wales only.
AccessYou can gain access to Fleet Mortgages via 3mc as your packager.
Property Type / CommercialAble to accept BTLs, HMOs and MUFBs in both personal and Ltd Co applications.
These also include (but not limited too) ex-local, above/adjacent to commercial and new builds.
LocationEngland and Wales only.
ConditionLet-able and habitable EPC purchase can accept below E rated if brought up to E within 30 days of completion. Remo – up to E rated.
Portfolio Landlords Accepted
(Landlords are considered Portfolio Landlords if they have 4 or more mortgaged properties.)
Background Portfolio Requirements
– 75% max LTV for the overall portfolio.
– Currently stressed at 125@5%.
– Currently no limit on the size of the background portfolio, either in terms of number of properties or loan amounts.
Additional Document Requirements
– Portfolio Schedule to be submitted on the BTL Hub.
– Portfolio Landlord Questionnaire.