Buy-to-Let
mortgages

There are three categories for this type of mortgage, so it’s important to first consider which one best fits your circumstances. Not sure which is right for you? Give our team a call on 0800 834 312. 

• Unregulated Buy-to-Let Mortgage

The most common type of Buy-to-Let mortgage. If you’re a landlord buying a property to rent out, this is the one for you. Also known as ‘Investment Property Loans’, these mortgages are not regulated by the Financial Conduct Authority.

• Regulated Buy-to-Let Mortgage

Also known as ‘Family Buy-to-Let’, this is the right mortgage if you’re intending to rent out your property to a family member.

Thinking of renting to a family member? Take a look at our Family Buy to Let case study.

• Consumer Buy-to-Let Mortgage

If you’re moving house but want to remortgage your existing property to let out, this is known as a ‘Consumer Buy-to-Let’ (or an ‘Accidental Buy-to-Let’). This also applies if you inherited the property.

You can compare our current mortgage rates online using our Buy-to-Let mortgage finder.

If you have multiple Buy-to-Let mortgages with another lender, the overall portfolio cannot exceed £2 million and 10 properties. However, our limit is five properties within the portfolio, which cannot exceed £750,000.00. The maximum number of Holiday Lets that can be mortgaged to the Society is 4. 

Whether or not you’re able to change your residential mortgage to a Buy-to-Let with us depends on a variety of factors. This includes your property type, personal circumstances and the terms of your original mortgage agreement. Our advisors will need to assess your circumstances thoroughly to see if you are eligible and, if so, provide you with your options.

Whilst they may sound similar, they’re very different. A Buy-to-Let mortgage is required for properties that you intend to rent out. 

A Let-to-Buy, on the other hand, is slightly more complex. This type of mortgage allows you to rent out your current home, whilst providing you with a loan to purchase a new home. This is actually done using two mortgages - one for the property you’re renting out (Buy-to-Let) and another for your new home (residential).

As with any mortgage product, additional fees will apply. More information on the fees that may apply can be found on our mortgage fees and charges page.

In most circumstances, you cannot have a residential mortgage on a rental property. 

In some situations, you may be able to get consent from your lender to rent out your home, without changing your mortgage. This is known as ‘Consent to Let’ and it can only be used as a short-term solution. Getting this permission before renting out your home is crucial, otherwise, you risk losing your property.

While it’s possible for first time buyers to secure a Buy-to-Let mortgage, most lenders view them as high-risk applicants. This is mainly due to their lack of experience in property ownership. It's also worth noting that here at Furness, our lending criteria requires Buy-to-Let applicants to already own their own home - either outright or mortgaged.