Buy to let mortgages for accidental landlords.
- Flexible on income & credit status
- On a huge range of property types
- Quick & easy application process
What makes us different
TrustedWith almost 50 years of lending experience under our belts, you can trust us to get things right for you.
Open-mindedUnlike many, we lend on properties like ex-council properties, high-rise flats and those made of non-standard materials.
Common senseYou're more than a credit score. If the sums show that you can afford the property, we do our best to make it happen.
SmartReceive updates on your application, upload files & e-sign most documents to open your Together account - all using our secure app.
£1mBorrow up to £1m*
6.39%*Rates from 6.39%*. Variable and fixed options available
75%*Borrow up to 75%* of the property's value
4 to 30 yearsTerms available from 4 to 30 years
*The maximum loan, rate and loan-to-value ratio offered may be reduced depending on the property and your credit profile. Loans above £250k will be referred.
Inherited a property? Moving in with a partner? Relocating at short notice?
Renting out your property could prove lucrative so we understand why becoming an accidental landlord is sometimes an appealing option. This could mean you need to remortgage before renting out your property – perhaps because your existing mortgage provider doesn't do buy-to-let mortgages, or because you need to complete renovations.
Anyone can be a landlord these days, thinking about renting out your property to provide a second income, or boosting your pension pot further down the line, we may be able to help.
Our common-sense approach means we can also consider applications that some other lenders sometimes struggle with, such as if you already have a mortgage on the property, you're self-employed, work several jobs, or have already retired or if you’ve got less-than-perfect credit history.
Common questions about Buy to Let mortgages
Am I eligible for a buy-to-let mortgage with Together?
We don't have any minimum income requirements, and if your rental income sufficiently exceeds your monthly payments we won't insist on an affordability assessment. If you've not yet bought the property, we can use an assessment of the potential rental income from an estate agent.
If we do need to conduct an affordability assessment, we'll take into account all of your income – including up to 90% of projected rent, rent from other properties you own, pension income, and wages from your day job (if you have one).
We're happy to lend to first-time landlords, limited companies, property professionals, expats and others.
If you’re unsure if your circumstances mean you qualify, get in touch with us to discuss your eligibility.
How much can I borrow for a buy-to-let mortgage with Together?
We offer buy-to-let mortgages of anywhere from £50,000 to £2m – and sometimes more! If you want to borrow a large amount (i.e. over £500,000) we may or may not insist on you putting in a larger deposit or more equity.
What fees will I have to pay on a Together Buy to Let mortgage?
We charge an Arrangement Fee, and some of our Buy to Let mortgages include an Early Repayment Charge, which you'll pay if you elect to remortgage with another lender or repay your loan in full before the term ends.
We also charge a Redemption Administration Fee when you 'redeem' (i.e. fully repay) your mortgage, to cover costs associated with closing your account and dispensing our legal claim to your property.
All of these fees can vary, so we'll ensure that the fees that apply to your particular mortgage are clearly explained before you sign on the dotted line.
Other fees and charges may be applied to your account during the life of your mortgage, in relation to the management of your account (for instance, if you fall behind on your monthly payments). These are all explained in our Tariff of Charges.
How many buy-to-let mortgages can you have?
There’s no strict limit, but some mortgage lenders will put a limit on how many mortgages (or how much you’ve borrowed overall) they’ll let you have. Here at Together, we have no such limits.
Some investors who own lots of rental properties may instead decide to have one very large mortgage that covers all of them, so they have a single monthly payment to meet.
This is known as a portfolio buy-to-let mortgage and is secured against all of their properties at the same time, and is something we also offer.
How do you decide my interest rate?
The rate you're offered may be influenced by several factors, including:
- The type of rental property you have (e.g. long-term rental, or short-term holiday let).
- The value of the property you're using to secure the mortgage.
- How much you need to borrow (both in total, and as a percentage of your property's value).
- Your credit history (but not your credit score).
Overall cost for comparison
For example: A mortgage of £170,020 payable over 21 years, initially on a fixed rate for 5 years at 6.99% (and then on a rate for the remaining 15 years at 1.8% above the Together Homeowner Managed Rate (THMR)) would require 60 instalments of £1,230.72 followed by 192 monthly payments of £1,363.34 plus a redemption administration fee of £110.00. Read more information on THMR.
The total amount payable would be £341,307.68 made up of the loan amount (£170,020) plus interest on the loan (£163,055.14), arrangement fee (£4,251.00) plus interest on this fee (£3,871.54) and the redemption administration fee (£110.00).
The overall cost for comparison is 7.8% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.