Landlord Mortgages

Landlord mortgages provide you with a mortgage against a property that is designed specifically for what you do: being a landlord. Whether you are a first time landlord or expanding your portfolio, you need a mortgage that can provide flexibility and offer low rates so that you can maximise your margins, especially in a competitive climate.

At Remortgage Quotes Online, we work with over 40 specialist lenders across the UK and can help you compare landlord mortgage rates including interest only, fixed, variable and tracker.

Start by clicking on ‘get a quote’ below and by entering some basic details, we will be able to tailor a mortgage scheme that suits your requirement and provides you with the best rates possible.

Key Features

  1. Used for renting out property to tenants
  2. One or multiple properties considered
  3. Borrow up to £2 million
  4. Minimum 25% deposit
  5. Interest only, fixed, tracker mortgages available
  6. Rent charged should be 125% to 145% of mortgage repayments
  7. Free tool to compare landlord mortgages
  8. Free quotes and no obligation quotes

How is a Landlord Mortgage Different to a Typical Mortgage?

Landlord mortgages are specifically used to assist landlords that have one property or an entire portfolio that they are renting out to other tenants in the residential or commercial sector. This could include renting out residential properties to students, professionals or families or renting out commercial properties to businesses including garages, office space, high street shops and warehouses.

Based on our panel of lenders, the amount you can borrow through a landlord mortgage is up to £2 million, and it is expected that the rent you will charge should be at least 125% of the mortgage payment, or sometimes as high as 145% depending on the lender. This difference is the profit margin that you make for renting out a property, but be sure to keep an eye on other costs such as legal fees, insurance, stamp duty and more.

Am I Eligible for a Landlord Mortgage?

The criteria according to our lenders is typically:
  1. Must be aged 25 to 85 years’ old
  2. Earn a minimum of £25,000 per year
  3. Minimum deposit 25% of overall property value
  4. Strong financial record for your business (limited defaults, arrears)
  5. Good credit rating
  6. Self-employed accepted

The typical deposit required for a landlord mortgage is 25% of the property value, with some lenders requesting around 40% to 45%. If you are able to put down a larger deposit, this will typically reduce the monthly repayments or overall cost, since you have paid off and own more of the property. Putting down a higher deposit may also be a requirement for those individuals with limited financial records or weaker credit ratings.

We Help Landlords Save Money

Many professional landlords can already save money by remortgaging or finding a new deal. When the introductory offer ends, you can often be put on a much higher standard variable rate (SVR) and finding a new remortgage deal for a landlord can help you save hundreds or thousands of pounds per year. We will also take into account the rates, set up costs, the portability of your mortgage and any early repayment changes – to ensure that you truly get the best offer possible.

Most buy to let and landlord mortgages are interest only, so you do not pay any monthly repayments each month but at the end of the mortgage term. If you prefer, there are monthly repayment options available including tracker or fixed.

How To Apply With Remortgage Quotes Online

Click on ‘get a quote’ to get started and receive a quote in less than 5 minutes. We require a few basic details including your property value, expected annual rent and deposit you would like to put down. Our landlord mortgage calculator allows you to toggle with different settings to give you an idea of the monthly repayments and overall costs you can expect.

Remortgage Quotes Online can help you compare rates across the entire market. We work with a number of different lenders and are not limited to high street banks, meaning that we work with specialist finance providers too who can assist those with that are self-employed or bad credit.

It is free to get a quote and all offers are no obligation. We have a dedicated team of advisors on hand who can answer any further questions and can guide you every step of the way.