Blog post
February 25, 2019

Six top tips for submitting BTL business

As part of the latest criteria changes to our Buy-to-Let mortgage range, we’ve made it even easier for brokers to get to offer quickly by speeding up the application process.

1) Select the correct purpose and property type

Please make sure that you select the right application purpose. A change in ownership structure (eg. a transfer from individual to limited company ownership) is considered a purchase, not a remortgage.

Also, make sure to select the correct property type from the drop down menu; there are separate property type options for HMO and MUFB.

2) Upload a complete property portfolio

You must upload the borrower’s complete property portfolio onto the online portal in one of three ways:

  1. Fill in the details of each property individually within the portal, or
  2. Complete and upload the attached portfolio template, or
  3. Upload the borrower’s own portfolio spreadsheet.

Please see our property portfolio submission guide for the details we need.

3) Upload proof of income

For all applications we need the latest tax year’s evidence of earnings (SA302) and Tax Year Overview for each applicant. These can be obtained from the HMRC website.

4) Upload proof of deposit

For purchase applications where the deposit is coming from savings, we will need the last three months’ bank statements for all relevant savings accounts to provide evidence of the deposit amount.

5) Pay the valuation fee promptly

Once the borrower has electronically signed the application, we will raise a task on the online portal asking you pay the valuation fee. Please pay this as soon as possible – we can’t start working on your case until the fee has been paid.

6) Upload supporting documents onto the portal

Please upload all supporting documents and respond to tasks through the online portal – do not email them to us, as that will slow us down. This includes:

  • The latest tax years SA302 tax assessment and tax overview for each applicant.
  • Evidence of deposit, if the case is a purchase transaction.

After our initial assessment of the application, we may ask for further evidence on a case-by-case basis.

You can download our Buy-to-Let lending criteria for the latest rates, or download our Product Guide for details of our bridging and development finance range.