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What is a Buy to Let Portfolio Mortgage?


Coreco are proud to be one of the most experienced Buy-to-let mortgage brokers in the London mortgage market – some of our advisors were around when the modern residential Buy-to-Let mortgages were initially launched.

A Buy-to-Let portfolio mortgage is a product designed for landlords with more than one investment property. This product offers one umbrella mortgage for all of the Buy-to-Let properties, rather than having a mortgage on each property.

This product is suitable several types of investment properties including;

                  • Residential houses and flats
                  • Residential flats above commercial premises, for example above a shop or restaurant etc.
                  • Houses in multiple occupation (HMOs)
                  • Mixed properties of residential and commercial units
                  • A block of flats
                  • Student accommodation

A Buy-to-Let portfolio mortgage is considered as one account, cutting out the need for multiple mortgages with different lenders. One lender will finance the whole property portfolio with one monthly payment and one statement.

We understand that searching for the most suitable Buy-to-Let portfolio mortgage can be a little overwhelming, especially when there is a lot to consider! Coreco Commercial has over 20+ years of experience in securing specialist finance for our clients which means we can get some of the best rates on the market. We arrange Buy-to-Let portfolio mortgages for every kind of client — from first-time landlords starting out, to more experienced landlords with tens, hundreds, or even thousands of properties on their books.

Curious to see our advisers in action? Read our case study to see how we were able to secure a Buy-to-Let portfolio mortgage for a client looking to expand his investment properties by purchasing a portfolio of high-yielding HMO properties.

Whether the properties are old, new, in need of refurbishment, ex-local authority, or bought off-plan, Coreco has buy to let mortgage products available to suit all circumstances. Contact our expert mortgage brokers on 020 7220 5100 or click here for our online contact form.

 

CorecoFaqs

FAQs

  • Who can get a Buy-to-Let portfolio mortgage?

    Most experienced landlords can get a Buy-to-Let portfolio mortgage however, in 2017 new mortgage underwriting regulations from the Prudential Regulatory Authority (PRA) came into effect which impacted the criteria. Previously, portfolio landlords were classified as full-time landlords if they owned multiple Buy-to-Let properties, student accommodation or houses in multiple occupancy (HMO).

    However, with the new regulations now in effect, lenders must treat you as a portfolio landlord if you have four or more mortgaged properties. In addition, the portfolio must be registered as a limited company and treated as a business.

    Good to know

    When looking for a Buy-to-Let portfolio mortgage, you’ll likely undergo thorough due diligence checks from the lender who’ll want to ensure you are financially stable. Naturally, criteria will vary from one lender to the next. Different lenders will conduct different checks but things to be prepared for include:

    • Evidencing details of all mortgages on your buy-to-let properties
    • Providing previous and forecast cash flows from your portfolio
    • All income evidence – properties and any other sources
    • A stress test of your portfolio
    • Assets and liabilities evidence, including tax liability
    • Demonstrable experience as a landlord
CorecoImportant Information

The important bit


Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

A percentage of the mortgage amount may be charged depending on individual circumstances. A typical fee is 1%.

Coreco Commercial is a trading style of Coreco Specialist Finance. Coreco Specialist Finance. Registered Office: 117-119 Houndsditch, London EC3A 7BT. Registered in England Number: 06851546

Coreco Specialist Finance Limited is authorised and regulated by the Financial Conduct Authority.

Some types of finance offered by Coreco Commercial are not regulated. Please contact us for more details.

Coreco Commercial advisers are experienced mortgage advisers but we are not tax advisers. Please seek independent tax advice if required before you decide to proceed.

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Personal

We know that all our clients are unique, and therefore the finance you require needs a different approach. We pride ourselves on providing a client focussed journey built around your needs and goals.

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Professional

Our team always expresses their professionalism through their authenticity, high level of work ethic, and can-do attitude. We always find the best way for our clients to succeed.

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Progressive

Our progressive and forward-thinking outlook allows us to guarantee an exceptional level of innovative advice and service, ensuring an effortless, client-centric journey in the ever-changing financial world.

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