Buy-to-let mortgages: what you need to get one, and what they cost

In England, a buy-to-let mortgage is mainly a commercial lending decision: the lender cares about rent cover, loan-to-value, property type and your wider finances. The figures below are market figures unless a rule is expressly described as law, because UK legislation does not set buy-to-let rates, deposits or maximum borrowing.

What is a buy-to-let mortgage, and how is it different from a residential one?

A buy-to-let mortgage is a loan for a property intended to be rented out rather than lived in by the borrower, and the main differences from a residential mortgage are regulation, affordability testing, deposit size and repayment style. A standard investment-property mortgage is treated as business-purpose lending where the borrower intends the dwelling to be occupied under a rental agreement and not by the borrower or a related person; a non-business accidental-landlord case can instead fall into consumer buy-to-let. In the market, buy-to-let property mortgage underwriting usually starts with the expected rent rather than the borrower’s household spending, and lenders commonly want the rent to cover at least 125% of interest. Deposits are also usually bigger: MoneySuperMarket says most lenders ask for 25%, while residential mortgages can be available at much higher loan-to-value. Most buy-to-let mortgages are interest-only, which keeps monthly payments lower but leaves the capital debt to be repaid later.

Do you need a buy-to-let mortgage to rent out your home?

You do not need a buy-to-let mortgage because a statute says so; you usually need either your residential lender’s consent to let or a switch to a buy-to-let product because your mortgage contract says so. The legal starting point in England and Wales is that a mortgagor in possession has a statutory power to grant leases, but that power applies only so far as the mortgage deed does not say otherwise. That is where the practical answer sits: a standard residential mortgage commonly bars letting without permission, and lender-specific consent matters more than the phrase buy-to-let. If you are changing mortgage to Buy to Let NatWest, or any other lender, check that lender’s consent-to-let and remortgage rules rather than assuming there is one national process. In the market, consent to let is often temporary — Uswitch describes it as usually 6–12 months — after which a full buy-to-let remortgage may be required.

Can you get a buy-to-let mortgage if you do not own your own home?

Yes, you can get a buy-to-let mortgage without owning your own home, but first-time buyer buy-to-let is a thinner and more selective market. There is no statutory eligibility rule saying an applicant must already own a residential property before taking a buy-to-let mortgage, and the legal definitions of buy-to-let do not impose a prior-homeownership condition. The blocker is lender appetite: some lenders prefer applicants who already have experience of owning property or being a landlord, while others will consider first-time buyers buying an investment property. Expect the application to be more conservative on deposit, rent cover and personal income, because the lender has no owner-occupier mortgage history to lean on. If you do not own a property, the sharpest practical step is to search specifically for lenders or brokers that accept first-time buyer landlords, rather than using a normal buy-to-let mortgage calculator and assuming the result is available to you.

Can you get a buy-to-let mortgage if you already have a mortgage?

Yes, you can get a buy-to-let mortgage if you already have a residential mortgage, provided the lender’s affordability, loan-to-value and portfolio rules are met. There is no legal limit on the number of mortgages a person may hold, and NatWest’s published buy-to-let criteria expressly exclude residential mortgages from its count of mortgaged buy-to-let properties. The extra pressure comes from underwriting: the lender may assess your existing residential mortgage payment, other debts, tax position and the rent cover on the new property. If you already own several mortgaged rentals, the Bank of England’s Prudential Regulation Authority treats you as a portfolio landlord once you have four or more distinct mortgaged buy-to-let properties, which triggers more detailed portfolio underwriting rather than a ban. The practical distinction is therefore between having an existing home mortgage, which is common, and having a leveraged rental portfolio, which narrows the lender pool.

How big a deposit do you need for a buy-to-let mortgage?

A typical buy-to-let deposit is 25% of the purchase price, although some lenders ask less or more and there is no statutory minimum deposit. NatWest’s published buy-to-let eligibility says the borrower must have at least 25% of the purchase price as a deposit, and MoneySuperMarket gives the same market norm. A buy-to-let mortgage with 10% deposit is therefore not the standard market case: at 90% loan-to-value the lender has much less protection, the rental stress test is harder to pass, and many mainstream buy-to-let products will not be available. The Bank of England does not set a fixed maximum loan-to-value for buy-to-let lending; it expects firms to set their own LTV limits as part of risk appetite. In practice, the deposit is only one cap on borrowing: a property can have enough equity but still fail if the expected rent does not cover stressed interest by the lender’s required ratio.

Do buy-to-let mortgages depend on your income, or only on the rent?

Buy-to-let mortgages depend mainly on the rent, but lenders can also use personal income and many will not lend on rental income only. The PRA’s buy-to-let underwriting standard starts with whether the income from the property is sufficient to support the monthly interest cost, usually through an interest coverage ratio test; it also recognises personal income where the lender chooses to use it. The industry benchmark in the PRA statement is a 125% minimum interest cover ratio, but individual lenders often use higher cover or tougher stress rates for higher-rate taxpayers, limited companies, HMOs or lower-yielding properties. Habito’s broker guide puts the practical position bluntly: rental income on its own is usually not enough. If you do not have a permanent contract, that does not automatically rule out a buy-to-let mortgage, but it makes lender choice more important because self-employed, contractor and variable-income cases are assessed lender by lender.

How much can you borrow on a buy-to-let mortgage?

You can usually borrow the lower of the lender’s loan-to-value cap and the amount supported by the rent stress test, so a buy-to-let mortgage calculator should be treated as an estimate rather than an offer. A simple buy-to-let mortgage example shows the two limits working together: on a £300,000 property with a 25% deposit, the loan-to-value limit suggests a £225,000 mortgage, but the rent must still pass the lender’s interest-cover test. The PRA describes 125% as the current industry-standard minimum ICR threshold, and also expects lenders to stress affordability at a minimum 5.5% borrower interest rate during the first five years even if the actual rate is lower. On a £225,000 interest-only loan stressed at 5.5%, annual interest is £12,375, so 125% cover needs rent of about £15,469 a year, or about £1,289 a month. Higher lender stress rates or 145% cover reduce the loan.

Should you take a buy-to-let mortgage interest-only or on repayment?

Most buy-to-let borrowers choose interest-only, but repayment is safer if the property’s rent still covers the higher monthly payment and you want the debt cleared by the end of the term. Interest-only buy-to-let means each monthly payment services interest but does not reduce the capital, so the investor must repay the loan from sale proceeds, savings, refinancing or another repayment plan. Repayment costs more each month but steadily reduces the debt, which lowers refinancing risk if property values fall or rates rise. The tax position has weakened the old interest-only argument for individual landlords: since 2020–21, residential landlord finance costs are not deducted from rental profit, and relief is restricted to the basic rate of income tax. Limited companies are different for tax, but the lending test still matters. If the question is whether you can get an interest-only mortgage on a rental property, the answer is yes: it is the normal buy-to-let structure, not an exception.

What are buy-to-let mortgage rates, and how much higher are they than residential?

Buy-to-let rates are not always higher than residential rates: Moneyfacts put the average two-year fixed buy-to-let rate at 60% LTV at 4.91% in August 2026, while its comparable residential two-year fixed rate at 60% LTV was 5.11% in September 2026. That reverses the old assumption behind many buy-to-let mortgage rates searches, although one month’s Moneyfacts snapshot is not a permanent rule. No law or regulator fixes a buy-to-let premium over residential mortgage rates; lenders price each product from funding costs, risk appetite, rent cover, loan-to-value, borrower type and property type. The best buy-to-let 5 year fixed rate is therefore a moving product-market question, not a legal answer. When comparing buy-to-let mortgages, look beyond the headline rate: arrangement fees, valuation fees, early repayment charges, stress-rate treatment and whether the lender accepts your property type can matter more than a 0.1 percentage-point rate difference.

What is a tracker or a discounted variable mortgage?

A tracker mortgage is a variable-rate mortgage that moves with a financial indicator, usually Bank of England base rate, while a discounted variable mortgage is priced at a set discount to the lender’s own standard variable rate. The key difference is control: a tracker normally follows a public benchmark according to the product formula, but a discounted variable mortgage follows the lender’s SVR, which the lender can change independently of base rate. That means the lowest tracker mortgage rates in the UK are easier to compare mechanically — base rate plus or minus a margin — while discounted deals require more trust in how the lender moves its SVR. Both can become more expensive quickly if rates rise, and both usually suit borrowers who can tolerate payment movement rather than needing a fixed monthly cost. In buy-to-let, the rate also feeds the rent-cover calculation, so a variable deal can affect not only payments but future refinancing headroom.

What are swap rates, and why do they move mortgage rates?

Swap rates are market prices for fixed-rate money over a future period, and they move mortgage rates because lenders commonly fund fixed-rate mortgage products against prevailing swap rates. A two-year fixed buy-to-let rate is therefore not priced only from today’s Bank of England base rate; it reflects where markets expect rates to sit over that fixed period, plus lender margin, risk and product strategy. Mortgage Strategy’s 2026 example shows why the movement matters: two-year swap rates rose from around 3.6% in early March to more than 4.5% by early May, and average two-year fixed mortgage rates rose over the same window. The practical lesson for landlords is that mortgage swap rates can move before a Bank Rate decision, so a fixed-rate product can disappear or reprice even when the Bank of England has not yet changed base rate. Swap rates explain product volatility; they do not guarantee a lender’s final rate.

Is it better to buy a rental with a mortgage or buy it outright?

Buying a rental outright gives lower risk and stronger monthly cashflow, while using a buy-to-let mortgage gives leverage and can improve return on cash if rent, tax and price growth beat the borrowing cost. No UK rule dictates whether a landlord should buy with a mortgage or buy outright; the law shapes the consequences instead. For individuals, mortgage interest on residential lettings is no longer deducted from rental profit and relief is restricted to the basic rate, so higher-rate taxpayers often find the post-tax gain from borrowing much thinner than the gross yield suggests. A mortgage also brings lender stress testing: the rent typically needs to cover at least 125% of interest, and often more. Buying outright avoids refinancing risk, valuation risk and interest-rate shocks, but ties up more capital in one asset. The better answer is therefore portfolio-specific: borrowing magnifies both the upside and the downside, while cash buying prioritises resilience.

Is now a good time to take out a buy-to-let mortgage?

Now is a better time for buy-to-let borrowing than the 2022–24 rate shock, but it is not automatically a good time to buy because tax, surcharge duty and rent-cover tests still do most of the damage to marginal deals. Bank Rate was held at 3.75% for a fifth consecutive decision in July 2026, and Moneyfacts put the average two-year fixed buy-to-let rate at 60% LTV at 4.91% in August 2026, below its comparable 5.11% residential figure in September 2026. Against that, a landlord buying an additional dwelling in England or Northern Ireland usually pays a 5% SDLT surcharge on top of standard rates, and individual landlords still receive only basic-rate relief for finance costs. In Scotland, the equivalent surcharge is Additional Dwelling Supplement under LBTT; in Wales it is the higher residential rates under LTT. The best timing test is not whether rates have fallen, but whether the property still works after duty, tax, voids, repairs and a stressed remortgage rate.

Can you get a buy-to-let mortgage through a limited company?

Yes, you can get a buy-to-let mortgage through a limited company, and limited-company buy-to-let is now a mainstream route rather than a niche structure. A company mortgage is not a regulated mortgage contract in the ordinary FCA residential sense because the regulated definition requires credit to be provided to an individual or trustees, but the PRA’s buy-to-let underwriting expectations still apply to company borrowers. The tax reason landlords consider a company is that the individual finance-cost restriction is carved out for companies, although corporation tax, dividend extraction, administration and lender pricing can offset that benefit. Paragon reported that limited companies accounted for 43% of mortgaged buy-to-let purchases in 2025, up from 35% in 2024, which shows how quickly the structure has moved into the centre of the market. A buy-to-let mortgage broker for a limited company is often useful because lender criteria differ sharply on SIC codes, personal guarantees, portfolio size and director income.

What is an HMO mortgage, and how much more does it cost?

An HMO mortgage is lending on a property occupied by two or more households sharing a basic amenity under the Housing Act 2004 standard test, not automatically a property with three or more people. That correction matters because many broker pages repeat the three-person shorthand, but section 254(2)(f) of the Housing Act 2004 contains no headcount minimum for the standard test in England and Wales. HMO mortgage rates and deposits are usually more expensive than standard buy-to-let because the property is operationally riskier: more tenants, more management, licensing risk and higher wear. OnlineMortgageAdvisor’s market guide says first-time HMO borrowers usually need at least a 35% deposit and can expect rates above 5%, but no reliable fixed HMO-versus-standard-BTL premium is published. Scotland and Northern Ireland run separate HMO licensing regimes, so do not use the England and Wales statutory HMO test as the licensing test for those nations.

Does a buy-to-let mortgage let you put the property on Airbnb?

A buy-to-let mortgage does not automatically let you put the property on Airbnb; short-let permission is a lender and product term, not a general right created by having a buy-to-let loan. Some lenders impose a flat restriction: NatWest says it will not consider properties used as a holiday home or holiday let. Other lenders and specialist products do allow Airbnb-style short stays, so the answer is not a market-wide no. If your buy-to-let mortgage terms do not mention short lets one way or the other, do not treat silence as consent: standard buy-to-let products are commonly built around longer residential tenancies, and a lender may require express permission for holiday-style use. The mortgage question is separate from planning, leasehold, insurance, tax and local licensing restrictions. Abodient can store the mortgage offer and lease documents against the property so a landlord can search the actual short-let wording before changing use.

Can you get a residential mortgage on a house that still has a tenant in it?

You usually cannot complete a normal residential mortgage as an owner-occupier while a sitting tenant still has the right to remain, because the lender expects vacant possession or owner occupation at completion. This is a market and conveyancing problem more than a single statutory rule: a house with a tenant in it is still someone else’s home until the tenancy ends lawfully, and eviction or surrender can take months. OpenRent’s guide puts the practical position clearly: buying with a sitting tenant only really works for landlords looking to invest with buy-to-let finance. If you are buying to live in the property yourself and the sitting tenant’s contract does not end until months after completion, the lender may refuse the residential mortgage or require completion to wait until vacant possession is available. The key risk is not just approval; it is exchanging contracts on the assumption a tenant will leave by a date you cannot control.

Do you need a mortgage broker for a buy-to-let, or can you go direct to the lender?

You do not legally need a mortgage broker for a buy-to-let mortgage, but some buy-to-let lenders and products are broker-only, so going direct reduces the market you can reach. Finder’s market guide states that some buy-to-let deals are available only through brokers, while direct applications remain possible for others. NatWest illustrates the dividing line: some applicants can apply direct, but landlords with four or more mortgaged rental properties are told they cannot apply directly and should use comparison sites or a broker. Paragon goes further for new customers, saying they must apply through a financial adviser. The legal rule is about the person arranging or advising on regulated activity being authorised, not about forcing a borrower to appoint a broker. If your case is simple, direct may work; if it involves an HMO, limited company, short let, first-time buyer landlord or portfolio underwriting, a specialist broker can materially widen lender choice.

How do you choose a buy-to-let mortgage broker?

Choose a buy-to-let mortgage broker by checking specialism first, fee structure second, and lender access third. A whole-of-market residential adviser is not automatically the right adviser for buy-to-let, limited-company buy-to-let, HMOs, portfolio refinancing or short-let lending; MoneyHelper says borrowers needing a specific mortgage such as buy-to-let or interest-only need the right adviser for that need. Ask whether the broker regularly places your exact case type, whether they deal with broker-only specialist lenders, whether they advise on limited-company borrowing, and whether they will compare product-transfer options as well as remortgages. Fees matter because brokers may charge the borrower, receive lender commission, or do both. Reviews for a named firm, a buy-to-let mortgage broker UK search, or a buy-to-let mortgage advisor near me search can help screen service quality, but they should not replace hard questions about lender panel, recent cases, fees, refund policy and whether advice is regulated or unregulated.

How long does a buy-to-let mortgage application take to approve?

A typical buy-to-let mortgage application takes about four to six weeks to complete, but no UK rule gives lenders a fixed approval deadline. UK Moneyman’s specialist buy-to-let guide says most applications complete within four to six weeks, and that is a realistic market benchmark for a straightforward case with valuation, documents and legal work moving cleanly. Underwriters can take longer where the borrower is a portfolio landlord, the property is an HMO or multi-unit block, the rent is borderline, the title has leasehold or cladding issues, the borrower is a limited company, or the lender asks for accountant material. The phrase how long do underwriters take to approve a mortgage in the UK has no statutory answer: FCA mortgage rules regulate conduct and disclosure, not a decision timetable. The fastest practical route is a complete pack at submission — ID, income evidence, tenancy or rental assessment, portfolio schedule, bank statements and property details.

Can a mortgage be refused after it has been approved?

Yes, a mortgage can be refused after approval if the approval was only an agreement in principle, the full underwriting fails, the valuation changes, the offer conditions are not met, or the borrower’s circumstances change before completion. MoneyHelper warns that a full mortgage application can be declined even after an agreement in principle. For regulated mortgage contracts, the FCA’s MCOB affordability rule also prevents completion unless the lender can still demonstrate affordability, but that protection applies to regulated contracts only; ordinary business-purpose buy-to-let sits outside that regulated mortgage duty, so it does not protect a typical landlord borrower in the same way. A formal offer is stronger than an AIP but still conditional: fraud checks, title issues, rental valuation, adverse credit, missed payments, job loss, new borrowing or an expired offer can all stop funds being released. Treat mortgage approval as live until completion, not as final at the offer date.

What happens if your mortgage offer expires before exchange?

If your mortgage offer expires before exchange, you need an extension or a new offer, and the lender can reassess the application rather than simply honouring the old terms. FCA rules require a mortgage offer document to state the period for which the offer is valid, but they do not set a universal minimum validity period. Market commentary commonly puts formal mortgage offers at about three to six months, with longer periods sometimes available for new-builds, but the actual deadline is the date in your own offer. Many lenders will consider an extension if you ask before expiry, especially where the delay is conveyancing-related, but they may require fresh payslips, bank statements, credit checks, valuation updates or a new product if rates have moved. If exchange has not happened, do not assume the seller will wait: the mortgage and conveyancing timetable need to be managed together before the offer lapses.

Should you remortgage a whole portfolio at once, or product transfer each mortgage?

You should not automatically remortgage a whole portfolio at once; for landlords with several fixed-rate buy-to-let mortgages ending close together, the stronger strategy is usually to test each loan for product transfer, like-for-like remortgage and full remortgage separately. The PRA treats borrowers with four or more distinct mortgaged buy-to-let properties as portfolio landlords, so a full portfolio refinance can trigger heavier underwriting and more documentation. The PRA also switches off some expectations for buy-to-let remortgages with no additional borrowing beyond the current outstanding amount, which is why a product transfer or like-for-like remortgage can be procedurally easier than raising capital. Property118’s 2026 broker commentary gives the practical portfolio answer: some properties may be best remortgaged, others simply transferred. For five fixed-rate buy-to-let mortgages ending within six months, sequencing matters: avoid five valuation fees and legal cases unless the saving or capital raise justifies the extra underwriting risk.

Last reviewed September 2026.

Sources

• Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, article 61A — “the agreement is entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower;” Source
• Mortgage Credit Directive Order 2015, article 4 — “consumer buy-to-let mortgage contract” means a buy-to-let mortgage contract which is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower; Source
• Uswitch buy-to-let mortgages guide — “Expect to pay 20-40%, with most lenders requiring at least 25%.” Source
• Uswitch buy-to-let mortgages guide — “Most buy-to-let mortgages are interest only, meaning you only pay off the interest accrued each month.” Source
• Uswitch buy-to-let mortgages guide — “Lenders generally want the rental income to cover at least 125% to 145% of your monthly mortgage payments.” Source
• Law of Property Act 1925, section 99 — “A mortgagor of land while in possession shall, as against every incumbrancer, have power to make from time to time any such lease of the mortgaged land, or any part thereof, as is by this section authorised.” Source
• Law of Property Act 1925, section 99 — “This section applies only if and as far as a contrary intention is not expressed by the mortgagor and mortgagee in the mortgage deed, or otherwise in writing, and has effect subject to the terms of the mortgage deed or of any such writing and to the provisions therein contained.” Source
• Uswitch buy-to-let mortgages guide — “This will give you a short term (usually 6-12 months) allowance to let out your home before you need to remortgage onto a buy-to-let product.” Source
• Uswitch buy-to-let mortgages guide — “It can be more difficult, as some lenders prefer that you have experience of property ownership before you move into BTL mortgages.” Source
• Uswitch buy-to-let mortgages guide — “However, there are certainly lenders out there that will approve buy-to-let mortgages for first-time buyers.” Source
• NatWest buy-to-let mortgage eligibility criteria — “This includes the property that you're purchasing or remortgaging and excludes any residential mortgages.” Source
• Habito buy-to-let mortgages guide — “There's no legal limit on how many buy-to-let mortgages you can hold.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “The PRA considers that borrowers with four or more distinct mortgaged buy-to-let properties, either together or separately, in aggregate, should be treated as 'portfolio landlords'.” Source
• NatWest buy-to-let mortgage eligibility criteria — “You have at least 25% of the purchase price of the property as a deposit.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “risk appetite limits on the flow and stock of buy-to-let lending, including ICR and loan-to-value (LTV) limits;” Source
• Bank of England PRA Supervisory Statement SS13/16 — “whether the income derived from the property is sufficient to support the monthly interest cost of the mortgage payments using an interest coverage ratio (ICR) test; and/or” Source
• Habito buy-to-let mortgages guide — “Rental income on its own is usually not enough.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “The current industry standard is to set the minimum ICR threshold at 125%.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “Even if the interest rate determined in paragraph 2.13 indicates that the borrower's interest rate will be less than 5.5% during the first five years of the buy-to-let mortgage contract, the firm should assume a minimum borrower interest rate of 5.5%.” Source
• MoneySuperMarket buy-to-let mortgage guide — “For a buy-to-let mortgage, most lenders will ask for a 25% deposit.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “if firms are taking account of personal income as a means for the borrower to support the interest and capital (if applicable) monthly mortgage payments, whether that income, in addition to any income derived from the property, is sufficient to support the mortgage payments using an income affordability test.” Source
• HMRC Property Income Manual PIM2054 — “Overall the legislation has the effect of limiting relief for relevant interest and finance costs to the basic rate of relief.” Source
• MoneySuperMarket buy-to-let mortgage guide — “Most borrowers take out an interest-only mortgage for their chosen property.” Source
• Moneyfactscompare buy-to-let mortgage rates — “4.91%” Source
• Moneyfactscompare fixed-rate mortgage rates — “Source: Moneyfacts, 1 September 2026.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “The PRA is not prescribing a specific interest rate, but lenders should be able to justify the approach taken for the purposes of the affordability test.” Source
• money.co.uk tracker mortgage guide — “A tracker mortgage has a variable interest rate based on a financial indicator.” Source
• money.co.uk tracker mortgage guide — “A discount mortgage is priced as a set percentage below your lender's own standard variable rate (SVR) which the lender sets and can change independently of the base rate.” Source
• Mortgage Strategy, swap rates explained — “Rather than reflecting where the Bank rate stands today, they reflect where financial markets believe interest rates may be heading in future.” Source
• Mortgage Strategy, swap rates explained — “When lenders launch fixed-rate products, they typically secure funding based on prevailing swap rates.” Source
• Mortgage Strategy, swap rates explained — “Two-year swap rates rose from around 3.6% in early March to more than 4.5% by early May.” Source
• Income Tax (Trading and Other Income) Act 2005, section 272A — “In calculating the profits of a property business for income tax purposes for the tax year 2020-21 or any subsequent tax year, no deduction is allowed for costs of a dwelling-related loan.” Source
• HMRC guidance on finance-cost relief — “The tax relief that landlords of residential properties get for finance costs is being restricted to the basic rate of Income Tax.” Source
• GOV.UK SDLT residential property rates — “You usually pay 5% on top of these rates if you own another residential property.” Source
• Moneyfactscompare Bank Rate report — “Bank of England base rate held at 3.75% for a fifth consecutive time” Source
• Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, article 61 — “the contract is one under which a person (“the lender”) provides credit to an individual or to trustees (“the borrower”);” Source
• Finance (No. 2) Act 2015, section 24 — “Subsections (1) to (4) do not apply in relation to calculating the profits of a property business for the purposes of charging a company to income tax on so much of those profits as accrue to it otherwise than in a fiduciary or representative capacity.” Source
• Bank of England PRA Supervisory Statement SS13/16, January 2026 update — “The underwriting standards set out in this SS should form minimum standards, regardless of whether the borrower is an individual or a company.” Source
• Paragon Bank press release — “Limited companies accounted for 43% of mortgaged buy-to-let house purchases during the year, up from 35% in 2024.” Source
• Housing Act 2004, section 254 — “two or more of the households who occupy the living accommodation share one or more basic amenities or the living accommodation is lacking in one or more basic amenities.” Source
• OnlineMortgageAdvisor HMO mortgages guide — “You will usually need a minimum of 35% deposit and can expect to pay rates in excess of 5%.” Source
• NatWest buy-to-let criteria — “We won't consider multiple tenancies, Homes of Multiple Occupancy (HMO), bedsits, 'Related Person' tenancies, properties that fall under a selective licensing scheme or properties that will be used as a holiday home or holiday let.” Source
• Premier Mortgage Services Airbnb mortgage guide — “For a property bought purely to let out to Airbnb guests, a buy to let mortgage can work, but not every buy to let lender is comfortable with short-stay guests.” Source
• Premier Mortgage Services Airbnb mortgage guide — “Standard buy to let mortgages are built around assured shorthold tenancies of six or twelve months, so a lender needs to specifically permit short-term or holiday-style letting on the product you apply for.” Source
• OpenRent guide to buying or selling with a sitting tenant — “It can take months to evict tenants, so this option only really works for landlords looking to invest in a buy-to-let.” Source
• NatWest buy-to-let criteria — “You won't be able to apply directly with us however you can review the whole of market using price comparison sites or by contacting a mortgage broker.” Source
• Paragon Bank mortgages page — “If you're new to Paragon, you'll need to apply for a mortgage through a Financial Adviser.” Source
• Finder buy-to-let mortgages guide — “Some buy-to-let mortgage deals are only available through brokers, while it's also possible a broker could negotiate a better deal on your behalf.” Source
• MoneyHelper choosing mortgage advice — “If you need a specific mortgage, like Buy-to-Let or Interest-only, you'll need to find the right adviser for your needs.” Source
• MoneyHelper mortgage application guide — “Some brokers will charge a fee for advice, receive a commission from the lender or a combination of both.” Source
• UK Moneyman buy-to-let application timescale guide — “While most applications are completed within four to six weeks, certain factors can influence this timeline.” Source
• FCA Handbook MCOB 1.1.2G — “The purpose of this chapter is to set out to whom, for what activities, and within what territorial limits the rules, evidential provisions and guidance in MCOB apply.” Source
• FCA Handbook MCOB 11.6.2R — “the firm must not enter into the transaction in (a) unless it can demonstrate that the new or varied regulated mortgage contract or home purchase plan is affordable for the customer (and any guarantor).” Source
• MoneyHelper declined mortgage applications guide — “Your mortgage application could be declined, even after you've been given an agreement in principle (AIP).” Source
• Mortgage Notes mortgage application timing guide — “Formal mortgage offer issued: valid for 3–6 months (9 months for new builds).” Source
• FCA Handbook MCOB 6.4.11R — “A firm must ensure that the offer document contains a prominent statement: (1) of the period for which the offer is valid;” Source
• Comfort Estates mortgage-offer expiry guide — “The good news is that many lenders will consider an extension, provided you act early.” Source
• Bank of England PRA Supervisory Statement SS13/16 — “To avoid existing borrowers being adversely affected when re-mortgaging, the expectations referred to in paragraph 1.2(a) do not apply to buy-to-let remortgages where there is no additional borrowing beyond the amount currently outstanding under the existing buy-to-let contract to the firm or to a different firm.” Source
• Property118 product transfers vs remortgages 2026 — “For portfolios, consider sequencing – some properties may be best remortgaged, others simply transferred.” Source
• Property118 product transfers vs remortgages 2026 — “No affordability reassessment in many cases.” Source