Buy To Let Portfolios

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

If you’re an experienced Buy-to-Let investor or professional landlord with a large property portfolio, you’ll want to ensure your property finance is constructed as efficiently and cost-effectively as possible.

What is a Buy to Let portfolio mortgage?

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.

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 to finance a Buy-to-Let portfolio, 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

How can I get a Buy to Let portfolio mortgage?

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 have over 20+ years’ experience in securing specialist finance for our clients. 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 have products available to suit all circumstances. Contact us on 020 7220 5100 or click here for our online contact form.

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