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How much do you want to borrow? £50,000


Over how many years? 10 Years

3 Years
25 Years

What is a buy to let mortgage

A buy to let mortgage is a financial agreement that allows you to purchase a property in order to rent it to a third party. A residential mortgage doesn’t allow you to do this unless you have sought the permission of you mortgage lender. This permission usually comes with an additional fee.

A buy to let mortgage is for the sole purpose of purchasing a property to rent, thus no additional fees are charged for doing so (lender fees apply).

Mercantile Trust, unlike many other lenders doesn’t have a minimum income or employment requirement, so if you aren’t working as a result of retirement or other factors, you may still be eligible for a buy to let mortgage.

Can I get a buy to let mortgage with poor or bad credit?

Mercantile Trust’s criteria for adverse credit is listed below, this will help you to understand whether we may be able to help you. However it’s best to speak to an advisor and explain your financial situation to them.

Up to 2 of the following allowed:

  • • One missed mortgage payment with plausible explanation.
  • • One default.
  • • One CCJ (no max £) Up to three missed payments on one credit card.
  • • Up to three missed payments on one unsecured loan.
  • • Up to three missed payments on one utility bill.


  • • Mail order and communications for adverse
  • • Discharged bankrupts over 3 years old
  • • IVA’s: Must be maintained, UTF and being settled with loan
  • • Partially missed mortgage payments.
  • • CCJ ignored if: under £300, under £3000 and satisfied and all over 12 months old.
  • • Utility bill ignored if accounts are two or fewer payments down, irrelevant of previous account conduct.

Buy to let mortgage rates

The buy to let mortgage rate you are offered is dependent on many factors. These are unique to your case and take into account your personal financial situation, the proposed or actual rental income of the property you’re looking to purchase and the amount you’re looking to borrow.

As a result of the amount of factors considered, buy to let mortgages rates can vary and establishing an idea as to what rate you may be offered is difficult. The best way to find out is to get in contact with our friendly advisors and explain your personal needs and circumstances to them.

It is important to ensure that you can afford the mortgage you apply for as the property may be repossessed if you do not keep up with the repayments.

Buy to let mortgage deposits and LTV’s

The deposit that you have available will have a significant impact on your buy to let mortgage. The larger deposit that you have the less that you will need to borrow. This means that your monthly repayments, as well as your interest rate could be lower.

Mercantile Trust can lend at a maximum of 75% of the value of the property you wish to borrow for, meaning you’re required to pay a minimum of 25% deposit. If you’d like to discuss your circumstances, then feel free to give us a call and we’ll be able to help.

Bad credit buy to let mortgage lenders

Going direct to a buy to let mortgage lender which can consider adverse credit such as Mercantile Trust could save you money as you avoid paying broker fees. From the beginning of your application to completion you’ll work alongside the same experienced advisor, helping guide you through the process and making it as simple as possible.

To begin your buy to let mortgage application today, fill out the form above or call an advisor.

Bad credit buy to let criteria

We will do our very best to help everyone, however there are certain lending criteria and requirements that must be met in order to apply:

  • Up to 75% loan to value
  • Rates from 7.99%
  • 1st and 2nd charge
  • Tenants must not be related to applicant
  • Applicants must be at least 18 years old
  • Mortgage term must end by applicant’s 80th birthday
  • Rent must cover monthly payment at 125%
  • 1% stress rate
  • 12 months mortgage or rental history required
  • Top slicing available
  • No personal income requirements
  • Mortgage term can be between 3 and 25 years
  • Most property constructions accepted
  • Individuals and limited companies accepted
  • First time landlord, first time buyers accepted
  • HMO's (Houses in Multiple Occupation) accepted
  • No maximum number of rooms in HMO’s
  • DSS tenants accepted