What is a Portfolio Landlord?
The term ‘Portfolio Landlord’ applies to a client with four or more Buy-to-Let properties. If in any doubt about which lenders may have the most appropriate criteria and products for you should talk over your requirements with an expert mortgage broker with experience in sourcing portfolio buy to let mortgages. Give us a call today!
There is no technical or legal limit to the number of mortgaged Buy-to-Let properties you can own within your business as a Portfolio Landlord. However, lenders will typically want to minimise their exposure, and so will place a limit on the number of properties against which they are willing to lend to you, and possibly on the number of mortgaged properties they want to see in your portfolio as a whole. These limits will vary from one lender to the next.
The rules are more stringent. Lenders run a full analysis of the landlord’s whole portfolio and will generally ask for a business plan. This is to ensure that they are not becoming over-committed and are allowing enough contingency to cover eventualities such as a property lying empty for an unexpected period.
There is such variance between lenders that doing your own research into every product on offer would take a huge amount of time and effort.
The most suitable lender for you might vary according to
- your experience,
- portfolio size,
- amount of equity in your portfolio,
- your cash flow, cash reserves and the deposit you can supply,
- the location, size, and condition of the property you want to buy next.
Help is here for you Portfolio Buy To Let Mortgages
Portfolio buy to let mortgages can be a complex process, you need to consult with an experienced broker who can guide you every step of the way.
Book a free 30-minute introductory call