Regulated Consumer Buy to Let.
- Accidental landlords
- Property inheritance
- No previous landlord experience.
Key product information
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Unplanned scenarios
Whether they’re inheriting, looking to relocate, or no longer need a property, we can help your client become a new landlord. -
Onward purchase
For your client's next step, we support onward purchase of new residential properties. -
Projected rental
We take a common-sense approach to rental incomes. -
Location
We lend in England, Wales and Scotland.
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7.50%
Rates from 7.50% -
75%
Borrow up to 75% of the property's value -
£50k - £1m
Loans from £50k - £1m
Overall cost for comparison Example
For example: A mortgage of £123,000 payable over 19 years and six months, initially on a fixed rate for 5 years at 7.65% and then on a tracker at 2% above the Together Homeowner Managed Rate currently 9.00% (variable) for the remaining 14 years and six months would require 60 instalments of £1,048.71 followed by 234 monthly payments of £1,277.64 plus a redemption administration fee of £100.00. Read more information on THMR.
The total amount payable would be £285,331.96 made up of the loan amount (£123,000.00) plus fees (arrangement fee (£3,000), broker fee (£1,318) and redemption administration fee (£100), plus interest (£158,013.96).
The overall cost for comparison is 10.2% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
Useful guides and information
Documents for packagers using My Broker Venue
Looking for more? Explore our Resource Hub.
Related videos
Common questions about Regulated Consumer Buy to Let mortgages
Will my client need to change their mortgage to rent out their home?
With Together your client will need to amend their current agreement or obtain consent prior to letting out their home. Other lenders may allow a consent to let rather than changing to a BTL mortgage.
What income proof is required for a Buy to Let mortgage application?
We’ll need a copy of the tenancy agreement (if the property is already being rented out) or a rental assessment (if it’s not being rented out yet) along with recent proof of your client's personal income.
This could be a recent payslip or P60 if your client is employed or a recent SA302 if they're self-employed.
How many years can my client choose to repay a consumer buy to let mortgage over?
At Together, our minimum repayment term for a Consumer Buy to Let mortgage is 6 years, and our maximum repayment term is 30 years. This means that your client has got the flexibility to choose a repayment length that works for their situation and affordability.
Does my client need to be a UK resident to apply for a consumer buy to let mortgage?
If your client lives abroad, we can consider them for a CBTL mortgage if they are an expatriate and their situation falls under the following circumstances:
- If your client's application meets the required Interest Coverage Ratio. Interest Coverage Ratio helps assess how easily an entity could pay the interests against any outstanding debts.
- Your client holds a UK bank account in their name
- The rent from the property must be received in sterling and paid into the UK bank account
- Your client's country of residence is not deemed high risk.
Can my client rent a house out to a family member?
Not with a consumer buy to let mortgage, your client can use a residential mortgage though but their personal employed income would be used for affordability rather than rental income with Together.
