Buy-to-let policy
A portfolio landlord is someone who will have 4 or more mortgaged properties on completion of the new loan. This includes any BTLs held in an SPV, and for a joint application includes all mortgages whether they’re held together or separately.
We only lend to portfolio landlords for a remortgage of an existing BTL with no additional borrowing.
For customers looking to borrow additional money, buy a new BTL or convert a residential mortgage to a BTL we will only be able to assist if the customer does not meet the definition of a portfolio landlord.
Transaction types
| Can you have a BTL mortgage with Clydesdale? | |||
|---|---|---|---|
| Total number of BTLs already owned (all lenders) | Transaction type | ||
| New BTL purchase, or convert a residential mortgage to BTL | Remortgage and borrow more | Remortgage with no additional borrowing | |
| 0 | ✔ | ✔ | ✔ |
| 1 | ✔ | ✔ | ✔ |
| 2 | ✔ | ✔ | ✔ |
| 3 | ✘ | ✔ | ✔ |
| 4-8 | ✘ | ✘ | ✔ |
The maximum number of BTL properties mortgaged with Clydesdale is 3.
The maximum number of BTL properties a customer can own in total, including mortgaged BTLs, unmortgaged BTLs, and the property being mortgaged with us is 8.
Please also see background BTLs.