Portfolio Landlords - What you need to know

Mortgage

​Following the new underwriting standards introduced for Portfolio Landlords in September 2017 we understand the pressure you may be facing when trying to place rental mortgages.

Article date: 02/10/2018

​That’s why we improved our criteria and service proposition to give Portfolio Landlords more options and greater flexibility, and made the application process smoother for intermediaries. 


Our criteria 

  • Maximum portfolio size of 10 mortgaged rental properties (including all lenders).
  • Up to 4 of these properties can be mortgaged with Leeds Building Society, whether Buy to Let, Holiday Let or a mixture of both.
  • Minimum 140% Interest Coverage Ratio (ICR).  
  • A stressed interest rate of 5.5% for purchase and capital raising remortgages and 5% for like-for-like remortgages is used to calculate affordability.
  • Maximum 70% Loan to Value (LTV). 

An even better service

As part of our commitment to Buy to Let lending, we have a dedicated Buy to Let, Holiday Let and Portfolio Landlord team of specialist underwriters, who assess each case individually to make sure the process is smooth and straightforward.

We also have an interactive submission form for all Portfolio Landlord cases and have provided underwriter training to our BDMs to provide assistance when it’s needed.

For more information click here
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