FAQs
To help give you more information and guidance on our Buy to let and Holiday let products, we’ve put together answers to the following Frequently Asked Questions.
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Can the owner of the Holiday Let use the property themselves?
Yes, the owner can use the property themselves for up to 60 days per year.
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Are there any properties excluded from Holiday Let Mortgages?
Yes, we exclude the following property types: holiday park properties, mobile homes, static non-permanent structures, multiple occupancy (a property divided into separate ‘flats’ or with more than 5 bedrooms) and others not already matching the accepted property types for existing Buy to Let, Guest-houses.
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Will you lend to ex-pats?
No, only to UK residents who’ve been in the UK for three years or more.
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Are there tax implications with Buy to Let properties?
Yes. We’re not tax experts and therefore if you have any questions, you should contact HMRC or someone who specialises in tax advice.
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Is there a specific type of tenancy agreement I need to have?
Yes, any tenancy existing at the date of completion or created subsequently must:
- be in writing
- adhere to the terms of the Renters’ Rights Act 2025, and an Assured Periodic Tenancy
- be in respect of the whole of the property
- be to a private individual or, if to more than one such individual, to all of them jointly
- be to an individual or individuals who DO NOT enjoy diplomatic immunity
- be for residential use only
This excludes Holiday Lets.
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Do I/We need to register on the Private Rented Sector Database?
Yes, all borrowers must register themselves and the property on the Private Rented Sector Database.
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Is there any restrictions on tenancy?
Yes, no tenancy shall:
- be offered to the existing owners of the property
- allow the tenant to transfer the tenancy or sublet the whole or any part of the Property
- permit any form of holiday let (unless a Holiday let), bed and breakfast, guesthouse or to let out part of the secured property such as an annexe or cottage within the grounds
- confer any security of tenure beyond the end of the tenancy period
- create a dwelling in multiple occupation i.e. the property must be occupied as a single household
- allow to let to local Councils/Authorities or Housing Association
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Do you allow Houses In Multiple Occupancy (HMO)?
No, we currently don’t offer mortgages on properties that fall under HMO rules. We’ll only lend on properties that are less than three storeys and let to single family units.
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Do you lend to Limited Companies?
No, we currently don’t lend to Limited Companies, only individuals.
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What’s the minimum term of employment or self-employment for Buy to Let?
For self-employed you need to have three years accounts, for those who are employed we’ll consider any term.
Please be aware that our FAQs do not cover all aspects of our lending criteria, for further information or guidance please use contact us.
Renters Rights Act – Update for Landlord Members
Learn about upcoming changes to the private rented sector and find links to official guidance for landlords.
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