Buy to Let mortgages

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. 

Our range of products mean your customers can choose a mortgage which either solely uses rental income (ICR) to calculate their affordability or, if they qualify, uses a mix of rental and personal income to boost their loan amount (we call this Top Slicing). You can create an AIP for either range with a soft footprint, only leaving a hard footprint once your customer is ready to proceed to a full application.

See the different criteria for both Buy to Let products below and check the affordability here.

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 £2,000,000. Maximum individual loan amount is £750,000
• Up to 75% LTV
• Available for purchases and remortgages
• All Buy to Let properties must have an EPC available with a rating of A-E before the valuation is carried out. In England and Wales only, we’ll also accept properties listed on the PRS Exemptions Register
• 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 the notional interest rate below (whichever is applicable):

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 100% of the monthly interest due, inclusive of any product fees added to the loan. This is calculated using the notional interest rate applicable (as mentioned in the table above)
• Maximum of four applicants - all must live at the same residential address and at least one must be a homeowner.