Buy-to-Let Mortgage considerations

You can apply for a Buy-to-Let Mortgage if:

• your property is being used for rental purposes,
• you borrow between £5,000 and £500,000 and up to 75% of your property’s value (up to 65% for new-build properties),
• you have no more than nine buy-to-let mortgages (with a total loan amount of no more than £3 million) within the Retail Division of Lloyds Banking Group**,
• the property is in good condition and not divided into separate units,
• you must be at least 18 years old and not over 75 years at the end of your mortgage term.
• your sole or joint income (excluding rental income) before tax is at least £35,000.

How much could I borrow?

If the amount you want to borrow will give you a total mortgage borrowing of more than £500,000 with us**, your sole or joint income (excluding rental income) before tax must be at least £50,000.

To qualify for a Buy-to-Let Mortgage, the maximum amount you can borrow is worked out in one of two ways. Either:

• your income plus 50% of the expected rental income will be taken into account, or
• the lending decision can be based solely on the expected rental income.

If you’d like to do this, we’ll need to be satisfied that the expected rental income for the buy-to-let property will cover the ongoing mortgage payments adequately. To find out more, please call us on 0800 783 3534 or visit your local branch. 

Useful links

What is a buy-to-let? - Advice on buying a property to let, the costs involved and other useful do’s and don’ts. http://www.arla.co.uk/btl/whatisbuytolet.htm (opens in a new window).

Property investor information – Some frequently asked questions from property investors, including topics such as tenancy agreements, insurance, rights of access and maintenance. http://www.arla.co.uk/info/landlords.htm (opens in a new window).

Income from buy-to-let properties – Information around the income a property investor can expect, plus providing basic buy-to-let taxation guidelines and including examples. http://www.arla.co.uk/btl/thereturns.htm (opens in a new window).

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service.

C&G mortgages are provided by Lloyds TSB Bank plc and administered by Cheltenham & Gloucester plc. Lloyds TSB Scotland plc offer their own range of mortgages, find out more.

* We may monitor and/or record telephone calls in case there's a need to check that your instructions have been carried out correctly and to help improve our service quality.

** This includes the following brands: Birmingham Midshires, Halifax, Bank of Scotland, Intelligent Finance,
Lloyds TSB (including C&G), Lloyds TSB Scotland, The Mortgage Business (TMB) and Scottish Widows Bank.

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