Santander Buy To Let Mortgages
Buy To Let Mortgages Service
Why choose us?
Fair Mortgages can provide you with a first class service if you are looking for buy to let mortgage advice. We can compare Santander buy to let rates with the rest of the market.
Special features of what we offer include:
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Whole of market broker - We deal with over 60 UK lenders including Santander
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Rates - Access to leading buy to let market rates
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Exclusives - Access to exclusive buy to let mortgage deals not available on the high street
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Our buy to let expertise - Expert help whether you are a first time investor or experienced full time landlord
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Credit issues? - We have lenders who will take into account previous defaults and missed payments
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Experienced buy to let investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us
To investigate your buy to let mortgage options, call our specialist team on 0117 403 4474 or fill in our call back form.
Compare Santander Buy To Let Mortgages
While Santander offers a range of residential mortgage deals through its high street branches and online presence, Santander buy to let mortgages can only be obtained by approaching a mortgage intermediary.
To find out more about how a Santander mortgage could benefit you, call our dedicated mortgage advice team on 0117 403 4474
Why choose a Santander buy to let mortgage?
Whether you are completely new to the world of buy to let mortgages, or have lettings experience and a property portfolio to your name, Santander buy to let mortgages could offer you a competitive mortgage deal with a range of benefits such as:
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A choice of two year or five year fixed rate buy to let mortgages ranging from 60% to 75% loan to value (LTV)
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Two year tracker mortgage deals available at 75% LTV
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Free standard valuation with eligible mortgages - receive a free standard valuation for mortgage purposes (up to a property value of £2.5m).
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Cashback deals – some Santander buy to let mortgages offer £250 cashback at completion as a contribution towards legal costs.
What are the lending criteria for Santander buy to let mortgages?
The criteria for lending to landlords from Santander include:
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Buy to let mortgages from Santander are available for properties which are valued at least £75,000, up to a loan to value (LTV) of 75% (or 70% LTV on new build flats)
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Santander buy to let mortgages are available from £25,000 to £750,000
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You can hold up to 5 buy to let mortgages with Santander at any one time
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Applicants must be aged between 21 and 70 at the time of the application. The maximum age at the end of the mortgage term is 75
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Mortgage terms are available from 5 to 25 years in duration
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Buy to let mortgage applicants must be UK residents
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If a joint application is being made, at least one applicant must already hold a current UK residential mortgage
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Your proposed rental income must be at least 145% of the Santander buy to let monthly payment
Buy to let mortgage regulation changes
When applying to Santander for a buy to let mortgage, it is important to keep the changes to the buy to let mortgage regulations in mind.
The Bank of England’s Prudential Regulation Authority made changes to the way the buy to let mortgage market is governed in 2017, which affected the buy to let mortgage application process.
Stricter Income Stress Test: From 2017, lenders will inspect landlords’ income in more depth than before. To satisfy the stricter income stress test, landlords will have to demonstrate that they can afford the mortgage payments in the event that interest rates hit 5.5%.
Property Portfolio Review: Lenders will now review the whole of the landlord’s property portfolio during the application process. A lengthy review of a landlord’s portfolio is necessary for lenders to identify whether a landlord has one or more properties that do not provide a positive return. It is worth noting that landlords can no longer spread equity across their portfolio, and if they have a property that is not profitable, they will not receive a buy to let mortgage.
To compare Santander buy to let mortgage deals with different leading mortgage rates and get the most effective deals for you, speak to our mortgage team.
We offer a free, whole of market, independent mortgage comparison service to help you find the best deal. Speak to our specialist team to help you find the right buy to let mortgage option for you.
To find out more about how a Santander mortgage could benefit you, call our dedicated mortgage advice team on 0117 403 4474
