Buy-to-Let considerations

You can apply for a Buy-to-Let Mortgage if:

• The property is in good condition and not divided into separate units.
• Your sole or joint income (excluding rental income) before tax is at least £35,000.
• You meet all of the standard criteria for a C&G mortgage. Find out more. 

How much could I borrow?

You can take out a maximum of nine Buy-to-Let mortgages within the Retail Division of the Lloyds Banking Group**, borrowing up to a total of £3 million.

For each property you could borrow between £5,000 and £1,000,000, up to a maximum of 75% of the value of the property (65% for new-build properties). If you want to borrow more than £1,000,000, please call 0800 028 0639* or visit your local branch.

If the amount you want to borrow will give you a total mortgage borrowing of more than £500,000 with Lloyds Banking Group**, your sole or joint income (excluding rental income) before tax must be at least £50,000.

If you're a first-time buyer and are planning to let the property to tenants the most you can apply to borrow is £500,000.

To qualify for a Buy-to-Let Mortgage, the maximum amount you can borrow is worked out in one of two ways. Either:

• your income plus 50% of the expected rental income
• or, the lending decision can be based solely on the expected rental income.
  
  If you'd like to do this, we'll need to be satisfied that the expected rental income for the buy-to-let property will cover the ongoing mortgage payments adequately. To find out more, please call us on 0800 028 0639* or visit your local branch.   

Check out our latest buy-to-let deals.