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Buy to Let Lending Criteria

We are proud to be different when assessing your client's BTL mortgage application and that means our criteria can be a bit different from other lenders.

Here are some of our key ways we can help your customers and some criteria points in brief.

How we can help:

  • We can lend to first time landlords, non-owner-occupiers and first time buyers.
  • We can lend for let to buy.
  • At 75% LTV, we can lend up to £1m. This increases to £1.5m in London and South East England.
  • At 80% LTV, we can lend up to £500k on Interest Only or up to £750k on Full C&I.
  • We can lend to portfolio landlords if they are requesting a remortgage with no additional borrowing.
  • We conduct an overall affordability assessment and our minimum rental requirement is 125% at the mortgage pay-rate.
  • The maximum number of properties that can be mortgaged with Clydesdale & Yorkshire Banks is 3, with a combined debt of £1m (£1.5m in London & South East England).

Key criteria at a glance:

  • One of the applicants must have a minimum basic earned or pension income of £30,000, excluding rental income. This rises to £75,000 for applicants with 4 or more BTLs. Importantly these are minimums and the application is subject to an overall affordability assessment.
  • We cannot lend to anyone who either has more than 8 BTLs in their portfolio or who has a higher level of gross rental income than non-property related income.
  • We do not lend on HMOs - defined as a property rented out by at least 3 people who are not from 1 household (e.g a family) but share facilities like the bathroom and kitchen.
  • Residential & personal expenditure - We will make a full assessment of the client's residential and personal expenditure position to ensure we are comfortable with the affordability position. This means that, as a guide, the residential mortgage should be no more than 4.5 x income, dependent on individual affordability.
  • Joint liabilities with external parties - Our affordability assessment is based solely on the income of our applicant. If the applicant has any liability joint with an external party, this liability must be affordable solely on the income of our applicant. For example, if our applicant has a residential mortgage with their partner, who is not party to our BTL mortgage application, the assessment of residential affordability will not take the partner's income in to consideration.
  • Size of BTL mortgages - We will make a full assessment of the client's exposure to BTL mortgages to ensure we are comfortable with the affordability position. As a guide, we would want the client to have no individual BTL mortgage (whether with ourselves or any other lender) of more than 4.5 x income, dependent on individual affordability.

If you've a question about our mortgages, the search tool below can help you find the information you're looking for

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Quick links

Our online application makes it quick and easy to apply for your customer

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To discuss product and policy queries, or for advice on making an application, speak to your Clydesdale Bank and Virgin Money BDM.

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For quick info on our products or lending policy, visit our product and lending criteria pages or use our live chat.

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To discuss applications already submitted, please call 0800 917 8363.*

*Monday - Friday, 9.00am - 5.30pm, except Wednesdays, 9.30am - 5.30pm

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