Buy to let mortgages.
Buy to let
Our buy to let mortgages are for landlords with up to 3 properties.
Buy to let mortgages are for homes rented out to tenants on a long-term basis. We work with landlords with small portfolios of up to three properties, rather than commercial investors, so whether you’re dipping your toes into the buy to let market for the first time, or you’re an experienced landlord, we may be able to help.
There are no restrictions on the number of properties owned in the background if you’re looking to take your residential mortgage with us – we can accept portfolio landlords for residential mortgages!
At Suffolk Building Society it’s all about you.
Here to help
Find a buy to let mortgage.
You can browse our range of currently available buy to let mortgages products below. Once you’ve found a mortgage products you can calculate buy to let mortgage costs with our indicative mortgage repayment calculator, or find out more about our mortgages in general on our mortgage information page.
Mortgage Name
Rate
Initial Rate
APRC
Rate Term
Max loan amount
Max LTV
Full Details
Buy To Let 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV (3% Fee)
Fixed
Product ID: Purchase: 29463, Remortgage: 29464
Fixed
Initial Rate
4.79%
APRC
8.2%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Buy To Let 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29451, Remortgage: 29452
Fixed
Initial Rate
5.39%
APRC
8.0%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Buy To Let 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29453, Remortgage: 29454
Fixed
Initial Rate
5.19%
APRC
7.1%
Rate Term
5 year
Max loan amount
£1m
Max LTV
80%
Buy To Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
Variable
Product ID: Purchase: 24262, Remortgage: 24263
Variable
Initial Rate
5.40% (SVR minus 3.04%)
APRC
8.0%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Buy To Let Light Refurbishment 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29455, Remortgage: 29456
Fixed
Initial Rate
5.49%
APRC
8.0%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Buy To Let Light Refurbishment 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29457, Remortgage: 29458
Fixed
Initial Rate
5.29%
APRC
7.2%
Rate Term
5 year
Max loan amount
£1m
Max LTV
80%
Buy To Let Light Refurbishment 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
Variable
Product ID: Purchase: 24264, Remortgage: 24265
Variable
Initial Rate
5.50% (SVR minus 2.94%)
APRC
8.1%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Expat Buy to Let 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV (3% Fee)
Fixed
Product ID: Purchase: 29471, Remortgage: 29472
Fixed
Initial Rate
5.25%
APRC
8.4%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Expat Buy to Let 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29469, Remortgage: 29470
Fixed
Initial Rate
5.85%
APRC
8.2%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Expat Buy To Let 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
Fixed
Product ID: Purchase: 29473, Remortgage: 29474
Fixed
Initial Rate
5.65%
APRC
7.6%
Rate Term
5 year
Max loan amount
£1m
Max LTV
80%
Expat Buy To Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
Variable
Product ID: Purchase: 24266, Remortgage: 24267
Variable
Initial Rate
5.70% (SVR minus 2.74%)
APRC
8.1%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Green Additional Borrowing (Buy to Let) 2 Year Discount Rate – up to 80% LTV
Variable
Product ID: 78031
Variable
Initial Rate
5.14% (SVR minus 3.30%)
APRC
8.0%
Rate Term
2 year
Max loan amount
£40,000
Max LTV
80%
Additional Borrowing (Holiday Let) Discount Rate – up to 80% LTV
Variable
Product ID: 78030
Variable
Initial Rate
5.84% (SVR minus 2.60%)
APRC
8.2%
Rate Term
2 year
Max loan amount
£500,000
Max LTV
80%
Additional Borrowing (Buy To Let) Discount Rate – up to 80% LTV
Variable
Product ID: 78029
Variable
Initial Rate
5.84% (SVR minus 2.60%)
APRC
8.2%
Rate Term
2 year
Max loan amount
£500,000
Max LTV
80%
Additional Borrowing (Buy To Let) Standard Variable Rate – up to 80% LTV
Variable
Product ID: 82005
Variable
Initial Rate
8.44% (SVR)
APRC
8.9%
Rate Term
3 year
Max loan amount
£500,000
Max LTV
80%
Buy to let
Our buy to let mortgage lending criteria.
When it comes to finding a buy to let mortgage that suits your needs, it helps to have the latest information at your fingertips. Here’s some of the key things you should know about our buy to let mortgages.
- Landlords must have no more than three properties within their portfolio. The properties must not be owned or run within a limited company.
- Buy to Let properties must be let on an approved Assured Shorthold Tenancy.
- We won’t generally lend on new build flats, studio flats, basement flats, ex-local authority flats/maisonettes, flats above 7 storeys or flats above commercial property. However, we will consider new build flats where these are located in Suffolk, Norfolk, Essex, Cambridgeshire, Hertfordshire and Bedfordshire.
- We will not lend on houses in multiple occupancy (HMOs) which require licensing, or multi-lets, or student lets.
- Properties must hold a valid Energy Performance Certificate (EPC) and meet a minimum Energy rating of E, to be evidenced at application. Should the property be exempt from the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015, evidence of exemption is required.
- ICR (Interest Cover Ratio*) either 125% or 145% dependent on UK tax rate. *This is the ratio of gross rental income to mortgage interest repayments.
Once you’ve found a buy to let mortgage which looks right for you, check the details carefully and get in touch so we can help explain the process and what you need to know.
FAQs
Frequently asked questions about buy to let mortgages.
A buy to let mortgage is needed to finance a property which will be let out to tenants.
With a buy to let mortgage tenants will be renting the property on a long term basis and living in it as their main residence. A holiday let property is for short-term guest rentals. If you’re planning to use your property for a holiday let you can find out more on our holiday let mortgage page.
We can offer buy to let mortgages to first time buyers. These however must fit on an affordability basis. We can also consider an expat buy to let mortgage for a first time buyer, for more information visit our expat buy to let page.
If you are an expat looking to purchase or remortgage a buy to let property in England or Wales you would need to get an expat buy to let mortgage. You can view our available deals using our mortgage finder or for more information visit our expat buy to let page.
Where a family member will rent a buy to let property this is known as regulated buy to let, or sometimes called family buy to let. This type of mortgage is treated differently and would need to be assessed based on applicants’ income and affordability rather than rental cover. Get in touch with us to find out more.
This depends on the criteria of the individual lender, but at Suffolk Building Society we’re happy to consider first time landlords, as long as you either currently own property or you have done so in the past.
To see how much your buy to let mortgage might cost you each month visit our mortgage repayment calculator. You’ll need to know how much you want to borrow, the interest rate and the length of the mortgage.
No. If you are planning to live in the property yourself and not rent it out you would not need a buy to let mortgage. Instead use our mortgage finder to browse our currently available residential mortgage products .
Building relationships
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We took out a mortgage on our house to help children get on the property ladder and have found Ipswich now Suffolk Building Society a friendly, professional and human organisation – just like building societies and banks used to be but so few are these days. A great team of people.
Mortgage member via
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Find the right mortgage product for you.
Enquiries
We have conversations, not algorithms.
Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
Ready to go? We’d love to hear from you. Get in touch with our friendly and knowledgeable team.
Prefer to talk?
Call 0330 123 0723
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