We have listed below Santander’s basic buy to let lending criteria.
If you answer yes to any of the following questions,
unfortunately Santander will decline the application.
1. Are any of the applicants aged under 21?
2. Are any of the applicants aged over 70?
3. Does any applicant reside outside of the UK/
Does any non-UK applicant not have permanent rights to
reside in the UK?
4. Do either of the applicants not have a current UK
residential or Buy to let mortgage?
5. Has your applicant(s) more than three Secured
Credit commitments or more than two existing Buy to Let Mortgages?
Will your applicant have more than two properties
mortgaged with Santander that are or will be let?
6. Is this a regulated Buy to Let mortgage?
7. Is the property value below £75,000?
8. Will the LTV be greater than 75%?
9. Will the application include any borrowing for
10. Will the property be subject to mandatory licensing
as a HMO (House in Multiple Occupancy)?
11. Is the application for a property subject to
planning restrictions preventing occupation for
52 weeks a year?
12. Will the property have four or more tenants or
require more than one tenancy agreement?
13. Did the (proposed) tenant(s) previously own the property?
14. Is the property leasehold, where the leaseholder
retains a controlling interest in the freehold?
15. Is the property a freehold flat?
If you cannot say yes to all the questions, contact us so we can source a but to let mortgage for you.
Why use Neil Soundy Financial Services for your mortgage advice.
We offer at least twice the choice of mortgages compared to a standard mortgage broker.
View the video on our homepage that explains how mortgage advice has changed.
We will give you expert impartial advice on the mortgage market.
Contact us today for a free no obligation initial discussion or meeting
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
By Neil Soundy
Request Call Back
We can discuss your current situation and the options available to you before arranging a free no-obligation meeting.