Frequently Asked Questions – Buy-to-Let

Applicants must have a minimum income per application of £25k per annum. For joint applications this can be a combined income (e.g. applicant 1: £15k, applicant 2: £10k).

The minimum age is 25 and applies to both applicants where a joint application has been made. We do not accept First Time Buyers for Buy-to-Let mortgages.

Maximum loan size for any one property is £500k.

TSB will lend to landlords with a maximum of three mortgaged Buy-to-Let properties, either with TSB or other lenders. This includes all properties that are held by an individual, a group of customers, limited company or any other legal entity.

An individual or group of customers can hold a maximum of:

• One main residence and three non-main residences with TSB. The non-main residences can include; Buy-to-Let, second home, existing consent to lease.
• £2 million of non-residential mortgages with TSB.

includes all properties that are held by an individual, group of customers, limited company or any other legal entity.

The rental income must cover the higher amount of 145% of the mortgage interest at the initial product pay rate OR:

• A notional rate of 5.5% for purchase and remortgage applications where a fixed rate of under 5 years is selected or the customer is remortgaging with additional borrowing.
• A notional rate of 5% for purchase and remortgage applications where a fixed rate of 5 years or more is selected, or the customer is remortgaging with no additional borrowing regardless of the product selected.

For like for like remortgages the balance keyed must align to the current mortgage balance as per credit bureau. Further documentation will be required if the loan requested is higher.

No, letting to family members is not permitted under a Buy-to-Let mortgage - these purchases must be processed as a second home loan.

A maximum of 4 unrelated occupiers / tenants in England and Wales, 3 in Scotland per AST (Assured Shorthold Tenancy). 

• In England and Wales, an AST under the Housing Act 1988 is required. 
• In Scotland, a PRT (Private Residential Tenancy) is required. 

Yes, as long as the applicants are not First Time Buyers they can apply for a Buy-to-Let mortgage.

No, applicants must have resided in the UK for at least the last 12 months to apply for a Buy-to-Let mortgage.