Can I get a buy-to-let mortgage on a four, five, six or seven bedroom property?
It is possible to secure buy-to-let mortgages on larger properties with lots of bedrooms.
Kent Reliance is one of the more generous lenders. It allows six lettable rooms for standard buy-to-let properties on a single assured shorthold tenancy (AST).
A couple of buy-to-let lenders do not limit the number of bedrooms. For example, Virgin Money does have a limit, but it only allows four people to sign a single tenancy agreement.
Aaron Strutt, product manager at Trinity Financial, says: “If you apply for a buy-to-let mortgage, the lenders will want to know that the property is not going to be a “back door residential” and that it is going to be let out. They are particularly hot on this at the moment, and brokers are under pressure to limit these applications.
“The lenders will also want the property to be occupied as a single-family dwelling, and there needs to be a decent demand for that kind of property in the area. It may be harder to get through if the property is an ex-care home or ex-B&B.”
Accord Mortgages limits buy-to-let properties to four bedrooms, and Santander has a cap of five bedrooms. Aldermore Bank will consider a six-bedroom buy-to-let property on its standard lending criteria.
If the property is going to be let out to different tenants, many lenders offer HMO mortgages.
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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