Buy to let mortgages

Mercantile Trust offer a wide range of first or second charge mortgages that can be secured on buy to let properties.

Property owners can borrow up to £500,000 over 3 to 25 years.

We offer capital and repayment or interest-only mortgages on fixed or variable rates.

Criteria - buy to let mortgages

Key facts

  • Up to 75% loan to value
  • Individuals, SPV and Limited companies
  • First time landlords/First time buyer
  • Portfolio landlords
  • Minimum rental cover 125%
  • Top slicing
  • Coverage in England, Mainland Scotland Wales and Northern Ireland


  • Minimum age 18 years old
  • Maximum age 85 years old
  • Individual and corporate ownership
  • First time landlord/First time buyer
  • Portfolio landlords
  • Maximum number of applicants 2
  • Up to 5 loans per applicant
  • 3 years residency history
  • 12 month mortgage or rental history needed

Loan details

  • 1st charge loans up to £500,000
  • 2nd charge loans up to £250,000
  • Capital repayment and interest-only
  • 3 – 25 year term
  • Variable and fixed rate offering
  • 2% commission on net loan

Status units

  • 1 unit of adverse in the last 12 months
  • Ignore CCJ’S Under <£300, <£3k satisfied, and all >12 months old
  • Ignore credit card/ unsecured loan/ utility less than 3 months down
  • Ignore mail order and communications for adverse
  • Ignore discharged bankrupts >3 years old


  • Automated valuations available (subject to criteria)
  • Most non standard construction types accepted
  • Minimum £75k property value
  • Valid ASTs to be provided in all cases
  • Current buildings insurance to be provided
Buy to let criteria