Talk to specialist buy to let mortgage experts.

  • Properties in the UK - England, Wales, Scotland, Northern Ireland
  • Loan to value (LTV) up to 75% (first and second charge)
  • Individuals and limited companies accepted
  • Smaller loan amounts, from just £10,000
  • Lower value properties, from just £75,000

Had problems with credit? We could still help. Need a flexible approach to affordability calculations? We accept personal income to supplement rental coverage, ask us about "top slicing".

  • 125% rental coverage
  • First time landlord/first time buyers with no rental history (LTV restricted to 65%)
  • Non-standard construction properties
Talk to buy to let mortgage experts
Specialist buy to let lending

Specialist buy to let mortgage lending.

Whether you have never owned a property, or are an experienced buy to let landlord, you could invest with our truly flexible buy to let mortgage solutions.

You can borrow up to £500,000 on a buy to let mortgage with us. If you happen to be investing in a low value property, get lending on property values from just £75,000. What’s more, you can borrow from a loan size of just £10,000.

Secure a range of buy to let mortgage solutions, regardless of your experience as a landlord. Call us, or complete our enquiry form.

First and second charge buy to let mortgages

We also offer first and second charge buy to let mortgages. A second charge mortgage is where you secure additional borrowing, with another mortgage product, when you already have a mortgage on the property (the first mortgage being the “first charge” mortgage).

So, if you have a preferential rate you don’t want to touch, or want to raise capital but are tied in to early repayment charges, a second charge buy to let mortgage might be the option to get you the funds you need.

Limited company and individual applicants accepted

Individuals and limited companies are eligible for all our buy to let mortgage deals. If you are investing via a company, we can accept both SPV’s (Special Purpose Vehicles, a limited company set up for the specific purpose of investing in property) and trading limited companies; not always available from other lenders.

Holiday let mortgages

For landlords in the tourism industry, mortgages for UK holiday let properties are also available. We can provide a mortgage for your holiday property whether you are self-employed, employed full time, work several jobs, or even if you have retired. If you have a less-than perfect credit history, we may still be able to help find the ideal financial solution.

Challenges with your credit profile

If you have had credit issues in the past, you may be wondering if you’d be eligible to borrow more. We’re specialists in helping those with poor credit - where some lenders may say no, we can often say yes.

Properties of non-standard construction

Is your buy to let of non-standard construction? If you are struggling to secure a mortgage, because your property is not a standard brick and tile structure, we could help you, call our team to see how.

HMO mortgages

You can also get HMO mortgages (house of multiple occupancy) as a new or experienced landlord investor with Mercantile Trust. We are one of few lenders who offer first time buyers the opportunity to borrow against houses of multiple occupancy (HMO), as well as standard buy to let properties.

Buy to let secured loans 

Even if you are not looking to take out a full mortgage, you can still use an existing property as security against a loan. Our buy to let secured loans allow you to use a property you own as security against a loan, which could help you access better interest rates and potentially overcome any issues with your credit history.

Enquiring is easy

It takes 30 seconds.

Simply fill out the form above, or call us to discuss your needs now.

Our team of experts are there for you.

You'll deal with the same experienced advisor throughout your enquiry.

We can get you the funds you need, fast.

You could get a lending decision in just one call.

Why choose Mercantile Trust for your buy to let mortgage?

Why choose Mercantile Trust for buy to let mortgages

One size does not fit all in property investment. If you need a buy to let mortgage and the property is unusual, your circumstances require personal consideration, you’ve had credit history issues, or for any other reason you are struggling to borrow, we could be the lender for you.

Clients value our common sense approach to lending, as it offers opportunity and solutions that the high street doesn’t often cater for.

We are a well-established lender, operating since 2015. Our wider heritage goes back even further, our group began operation in 1988. So, you will get help based on long-standing industry experience.

Buy to let mortgage criteria

  • Up to 75% loan to value
  • Rates from 11.9%
  • 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 85th 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

Ready to enquire?

Talk to our mortgage experts now

We are here to help

  • Friendly UK based advisors
  • Enquiring won't affect your credit rating
  • Fast turnaround times 7-10 days is possible
  • No phone menus - immediate contact from our advisors
  • We are a direct lender, so we'll work with you from start to finish
Tara Evans – Direct Sales Manager

Tara Evans

Head Of Direct Sales

14 years at Mercantile Trust

01923 892199

Frequently asked questions

A buy to let mortgage is a finance agreement that allows you to purchase a property in order to rent it to a third party.

A regular residential mortgage does not let you rent the property out, unless you gain the permission of your mortgage lender. Whilst residential lenders may give you permission if you ask for it, there will often be an additional charge to do so.

Buy to let mortgage affordability calculations are assessed on the potential rental income of the property i.e. how much rent can be charged for the house or flat / apartment being purchased. This means that your personal income is less of a factor.

The only exception is if you are a first time buyer, where personal income is assessed, in order to protect those who are new to property investment from over-stretching themselves financially.

Lenders will want to see that applicants do have some form of personal income, but many don’t have a minimum income requirement, so if you have retired and are on pension income, or you are self-employed and have a low income, or your personal income is low for any other reason, you may still be eligible for a buy to let loan.

When you speak to a buy to let mortgage lender direct, the process for getting a buy to let mortgage generally includes similar steps.

First of all, you would speak to a mortgage advisor for the lender, who will discuss how much you want to borrow, how much deposit you have to put down, and the rent you are receiving for the property (if you are remortgaging) or expect to receive (if you are purchasing).

The advisor will also ask you about the property in more detail, your experience in property (e.g. do you own your own home, do you own other properties), your financial situation and credit history.

This information helps a lender advisor assess whether you are a match with their criteria. Lenders build a picture of the type of property and applicant they are willing to lend to, this is their "criteria".

If your application matches the lender criteria, the property you are investing in will be valued and if the valuation matches the borrowing calculation for a deal the lender can offer you, they will grant you a "decision in principle" (DIP) or "agreement in principle" (AIP).

A DIP or an AIP simply means that if you proceed with an application and all other details you have provided meet the lenders approval, you will be offered a mortgage.

It is very important that all the information you provide is accurate, because if it isn't, the lender may be unable to accept your application.

There will be documents a lender requires from you to support your application, proof of affordability (e.g. tenancy agreement and proof of rent into a bank account), proof of your identification (if electronic checks fail) and signed lender documentation.

Once all the documents are back with the lender, the case will be processed and funds paid to you.

The amount of deposit you have available can have a significant impact on your mortgage.

The larger your buy to let mortgage deposit, the lower amount of credit you will need to borrow. If you borrow less money, your monthly payments and interest rates could be lower and the total amount you repay could be reduced.

The reason the cost or a mortgage is typically lower with a larger deposit, is because the lender takes on less of the risk than if they were lending to someone who wanted to borrow at a higher loan to value with a lower deposit.

The buy to let mortgage rate you are offered depends on a number of factors unique to your case. This includes your financial situation, the rental income of the property you’re looking to purchase, how much you’re expecting to borrow, your credit profile and whether you’re borrowing for a first or second charge mortgage.

Because of the amount of factors considered, buy to let mortgage rates can vary. Whilst you can input details about the borrowing you need into various online buy to let mortgage rate comparison tables, they usually cannot overlay the lender criteria, so you may be looking at a product you are not eligible for.

Having a discussion with a lender directly, will help you find out if you qualify for their products, and which product specifically from amongst their range.

Having a discussion with a broker, who has access to an extensive breadth of lenders, will help you establish the most competitive deal you can secure from across the buy to let marketplace.

If you want to raise some extra cash and release some equity from an existing mortgaged rental property, a second charge buy to let mortgage could be the ideal solution.

Whether you want to raise the money for a deposit for your next property, to renovate an existing property or for any other reason at all, a second charge buy to let mortgage is a great way to get the capital you need, fast.

A second charge mortgage sits alongside your existing buy to let mortgage product without affecting it. It is an alternative to remortgaging.

Always be prepared for times when there’s no rent coming in

In the life of any rental property, there will almost certainly be periods when there is no tenant and no rent is being received. It is essential to plan ahead for these times (known as “voids”) as you will still be required to make your mortgage repayments in order to retain the property.

During the times you are receiving rent, transfer some of it to a savings account and keep this account topped up whenever possible. This money can be used to make mortgage payments during voids, or to cover any unexpected repair bills such as blocked drains or a broken boiler.

Never rely on the sale of the property to repay its mortgage

Assuming that you will be able to sell a property in order to repay the mortgage can be a risky trap to fall into. Even in a buoyant economy there is always the danger of house prices dropping. If this was to happen, you may not be able to sell your property for as much as you anticipated, and you would still have to cover the difference on the outstanding mortgage.