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Buy to Let mortgages

Here's what you need to know about our Buy to Let products.

Buy to Let Top Slicing

See how much your customer could borrow when using their personal income to cover a shortfall in rent.

Calculate

Buy to Let ICR

Use our simple Buy to Let ICR calculator to work out the loan size or rental amount needed.

Calculate

Whether your customer's a first time landlord or has been through the process before, we offer a wide range of fixed rate Buy to Let mortgages to make their day. 

We offer products for your customers that either want to use rental income (ICR) to calculate their affordability or, if they qualify, want to boost their loan amount by topping up with their personal income. We call this Top Slicing.

See the different criteria for both Buy to Let products.

Key Buy to Let criteria

  • The total portfolio size is three BTL mortgaged properties per applicant (either solely or jointly) across all lenders, including Bank of Ireland Group
  • The maximum value of loans with Bank of Ireland UK is £1,500,000. Maximum individual loan amount is £500,000
  • Up to 75% LTV
  • Available for purchases and remortgages
  • Check your customers and their property meet our full lending criteria requirements here.

Buy to Let (Interest Cover Ratio) ICR

Your customer’s ability to pay is assessed on the rental income (which must be received in GBP). The rental income must be at least 145% of the monthly interest due inclusive of any product fees added to the loan. This is calculated using either the initial product rate or notional interest rate, whichever is higher.

The table below shows the rates applicable:

Product

Notional interest rate

Fixed rate for less than five years or a variable rate

5.5%

Fixed rate for five or more years

5%

 

Buy to Let Top Slicing

Our Buy to Let Top Slicing products allow your customers to cover any shortfall in rent and boost the loan amount they can apply for by including their personal income. Our criteria for this is slightly different. As well as the general Buy to Let criteria above, your customer must also meet the following:

  • Minimum household income of £40,000
  • Minimum property value of £100,000
  • Rental income must be at least 125% of the monthly interest due, inclusive of any product fees added to the loan. This is calculated at an interest rate of 5.5%
  • Maximum of four applicants - all must live at the same residential address and at least one must be a homeowner.

 

Our mortgages are available in Great Britain. Please see our distribution page for full details of the networks we work with.

 

Buy to Let Top Slicing

See how much your customer could borrow when using their personal income to cover a shortfall in rent.

Calculate

Buy to Let ICR

Use our simple Buy to Let ICR calculator to work out the loan size or rental amount needed.

Calculate

Get in touch

Speak to our team for online support, case updates or any other business enquiries.

0345 266 8928* Lines are open 8.30am - 6pm Mon to Fri.

0345 266 8928*

0345 266 8928*