Buy-to-let mortgages

The amount You are able to borrow for a buy-to-let property can’t be more than 75% loan to value.

If you have more than one buy-to-let property mortgaged with us, your borrowing across these properties can't be over £2 million.

The property must be:

• In the UK
• Worth at least £75,000
• Let under an assured tenancy or a company let agreement

The minimum energy performance certificate (EPC) we accept is E or above. The valuation will determine the rating.

We don't offer mortgages for houses in multiple occupancy (HMOs), such as student lets.

The annual rental income must be at least:

• 125% of a stressed mortgage payment (on an interest only basis) if all of the mortgage applicants are lower-rate tax payers
• 145% of a stressed mortgage payment your mortgage payments (on an interest only basis) if any of the mortgage applicants are higher-rate tax payers
• View our factsheet to understand the costs, responsibilities and risks of buy to let.

Buy-to-let factsheet (PDF, 134KB)

A buy-to-let mortgage is a type of mortgage where you borrow money to buy a property so You are able to rent it out to other people.

A buy-to-let mortgage is a way to borrow money when you want to buy a property to rent out. In general, your expected monthly income from renting out the property will be used to work out your mortgage offer rather than your personal income.

However, there may be instances where personal income can be considered as required.

You are able to apply for your mortgage over the phone, in a branch, or online. We'll ask you to provide supporting documents so that We are able to evaluate your mortgage application. We'll also want to know about the rental income you're expecting and potential running costs for the property, as well as details of any other buy-to-let properties you own. Have all this ready as it will help the process go as smoothly as possible.

Applying in a branch or over the phone

Arrange an appointment with one of our mortgage advisers. We are not able to provide any advice on buy-to-let mortgages but We are able to take you through your application.

Applying online

You are able to complete your mortgage application online.

Use our Mortgage Document Uploader service to provide your supporting documents. We'll email you the link for this after you've completed your mortgage application.

Once we've got all the information we need, we'll review your application and let you know the decision as soon as possible by phone, email or text.

Deposits for buy-to-let properties tend to be higher than they are for residential properties. While most mortgage lenders require a deposit of at least 25% of the property purchase price, some lenders require as much as 40%.

Customers are allowed 3 buy-to-let mortgages in total with PPLCBANK.

You are able to, however you may find that there is a limited choice of lenders who can offer you a buy-to-let mortgage as a first-time buyer.

To be eligible for a buy-to-let mortgage with PPLCBANK you must have owned and lived in your existing property for at least 6 months. Therefore, we don't offer buy-to-let mortgages to first-time buyers.

Yes, You are able to. If you're moving temporarily, You are able to consider applying for a Consent to Let with your mortgage lender. This lets you rent your property out for an interim period.

If you want to rent the property out for longer, you'll need to apply for a buy-to-let mortgage.

No, but you’ll need to meet specific criteria. If you own the property outright, You are able to rent it out without a buy-to-let mortgage.

If you have a residential mortgage and want to rent it out for longer, you’ll need to apply for a buy-to-let mortgage.