Hanel Online Borrowing | Buy to let mortgages

Helping landlords get ahead

If you're investing in property you want the backing of a lender who has strong market position and plenty of experience – Buy to Let mortgages could be the answer.

We know a buy to let investment can be a big commitment, that's why we've put together a helpful guide to help consider costs, responsibilities and the risks of becoming a landlord.

Like any investment, you need to understand the risks as well as any potential upside.

Invest with Buy to Let experts

Whether you're starting or expanding your property portfolio, our Buy to Let mortgages are available up to 75% loan to value.

A maximum Buy to Let lending limit applies, and other fees and charges may be payable including legal fees and charges applied by your existing lender.

To apply for our Buy to Let mortgages, you'll need to meet our eligibility criteria:

Minimum annual salary of $25,000
You must have owned and lived in your existing property for at least 6 months
The maximum Loan to Value (LTV) is 75%, subject to loan amount
Properties must be let under an Assured Shorthold Tenancies (AST) or company let agreement
The property must not be a House in Multiple Occupancy (HMO), e.g. a student let
All Buy to Let mortgages are subject to underwriting and lending criteria that may be varied from time to time
Additional borrowing is available to existing Buy to Let mortgage holders looking to borrow more on their existing rental property, however total lending must not exceed 75% loan to value (except for additional borrowing taken for debt consolidation purposes. The maximum borrowing amount for this is $30,000 with a maximum 60% loan to value)
We're not able to provide a Buy to Let mortgage if you're classed as either a Professional Landlord or a Portfolio Landlord:
1. A Professional Landlord is a person (or persons in the case of the joint mortgage) with more than $2,000,000 in buy to let borrowing across all lenders or where more than 50 per cent of their total gross annual income (joint income) is from rental income
2. A Portfolio Landlord is a person (or persons in the case of a joint mortgage) with four or more buy to let mortgaged properties in total at the end of the application.

Please note:

Our maximum borrowing limits take into account your total Buy to Let borrowing across all lenders and is subject to our maximum Buy to Let lending limits.
The affordability of a Buy to Let mortgage will be assessed from the property's rental income. The rent must be at least 145% of the mortgage payment, using an interest rate that takes into account the possibility of future interest rate rises. This way we can help to ensure the loan is affordable now and in the future. For example, if the monthly payment is $100 (100%), the monthly rental income must be at least $145 (145%).
To assess how much you can afford to borrow, a Rental Income affordability assessment is carried out.