Buy to Let Criteria
Loan
Purpose
Purchase and remortgage.
Remortgage
Remortgages within 6 months of purchase can be considered. Please contact The Hub for more information.
Repayment method
Capital and Interest. Interest Only. Part and Part.
Minimum loan
Refer to product and criteria guides as minimum loan amounts may vary by product or property type.
Maximum loan
Up to £3,000,000 per single asset exposure with Aggregated exposure limited to £5,000,000.
Minimum term
5 years.
Maximum term
35 years.
Porting
Our loans are not portable.
Offer validity
90 days. New build offers will be valid for 6 months subject to valuation / reinspection, if required.
Payment method
Payments must be made by direct debit. The direct debit mandate is required along with a bank statement for this account evidencing the account holder name and address.
Capital raising
If capital raising more than £150,000, evidence may be required of use of remortgage funds. If you are seeking to capital raise more than 50% of the available value in your property, evidence of use of remortgage funds may be required.
Void reserves
TML may request evidence that the applicant holds a minimum of 3 months of funds to meet mortgage payments in instances of rental voids. A full copy of a bank or deposit statement/bank data in an electronic format from an approved source demonstrating an acceptable level of savings may also be required.
Maximum loan and LTV
| Standard | ||||||
| Maximum loan | Individuals LTV | Limited Companies/ LLP LTV |
HMO LTV | Multi-unit blocks (including Mini MUBs) LTV | New build & flats above commercial LTV | Holiday & Short-term lets LTV |
| £1,000,000 | 75% | 75% | 75% | 75% | 75% | 75% |
| £1,500,000 | 75% | 75% | 70% | 70% | 75% | N/A |
| £2,000,000 | 70% | 70% | 70%* | 70% | 70% | N/A |
| £3,000,000 | 70% | 70% | N/A | 70% | N/A | N/A |
| *Only applies to London and South East of England |
Deposit
Deposits are required to be evidenced.
Acceptable deposits
Individual savings
Limited Company/LLP reserves or working capital.
Sale of property or pending sales.
Sale of shares or investment.
Inheritance.
Equity from another property.
Please contact The Hub to discuss.
Vendor/Builder gifted deposit
New build properties can have up to 5% builder gifted deposit.
Converted properties up to 5% considered on a case-by-case basis.
Gifted deposit
Gifted deposits are allowed from family members i.e. parents, grandparents, spouse, gifts from wider family members will be considered on a case by case basis. Gifts from non–family members will be considered on a case by case basis. All gifted deposits must be disclosed. Subject to a TML Gifted Funds/Equity Form being provided from the deposit provider together with all required identification and evidence of funds being submitted.
Family gifted equity
Up to a maximum 75% LTV and satisfaction that the transaction does not constitute Consumer BTL. Gifted deposits are allowed from family members i.e. parents, grandparents, spouse, gifts from wider family members. Gifts from non – family members will be considered on a case by case basis. All gifted deposits must be disclosed. Subject to TML Gifted Funds/ Equity Form from deposit provider and identification.