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Freestyle® Buy to Let Mortgages from Standard Life Bank

A smarter investment move

Whether your client is an existing landlord looking for a better deal on their mortgage, or just starting in property investment, our Buy to Let Mortgage is a smart investment designed to be both flexible and competitive so your client can maximise their returns.

For full rate information, click on our "Rates" link in the Related Links box.

Benefits of the Freestyle Buy to Let Mortgages

Take a look at the range of features and benefits our Buy to Let mortgages can offer your client:

• Borrow up to 75% loan to value or purchase price (whichever is lower) at affordable rates up to a maximum of £500,000
• Competitive fixed rates
• Half price arrangement/booking fees for up to 9 additional Buy to Let mortgages within 12 months following the Application in Principle (AIP) stage of your client's first application - providing the maximum overall lending does not exceed £500,000. Find out more about our half price arrangement/booking fees
• Manage initial costs - add fees to loan if required
• Affordability Boost - we can consider three times income minus any outstanding residential mortgage to reduce the rental yield required and increase the amount your client could borrow
• Borrow from £40,000 up to £500,000 (subject to lending terms)
• Borrow as much as £500,000 on a single property up to 75% LTV
• Make overpayments at any time and borrow back if necessary or use the Prepayment Reserve to fund the deposit on another property
• Payment holidays - Your client can take up to 2 payment holidays per year per property subject to sufficient funds in their Prepayment Reserve
• Let out the property for as little as six months
• No employment income verification required for applications up to 75% loan to value (credit checks will be conducted).

The Facts

• Rental income must cover at least 110% of your client's monthly interest payment, calculated using the appropriate rate. The appropriate rate is the interest rate applicable after the end of the initial discount rate period (for products with an initial discount rate) and the initial fixed rate for the appropriate loan to value (for products with an initial fixed rate)
• For your client's first Buy to Let mortgage an arrangement fee will be payable. A booking fee will also apply on our fixed rate Buy to Let mortgages
• For additional properties your client will only be charged half price arrangement/booking fees on a maximum of 9 further Buy to Let mortgages within the 12 month period following Application in Principle (AIP) stage of their first application
• These fees can be added to your client's loan. See our tariff of charges for full details of fees
• Adding fees to the loan will increase monthly payments, interest payable and the remaining balance secured on the property
• For the main applicant there is a minimum age of 25 and a maximum age of 64. Any applicant whose term takes them beyond the age of 69 is limited to 65% LTV. We also accept applications from joint applicants, the employed and the self-employed.
• Professional landlords and guarantor applications will be considered (subject to lending criteria)
• Your client needs to give 22 days' notice before taking a payment holiday and must have made 6 consecutive monthly payments. Their monthly payments, the interest payable and the remaining balance secured on their property will increase
• Overpayments are unlimited on variable rate mortgages. Overpayments of up to 10% of the outstanding balance per year can be made on a fixed rate mortgage. If your client repays their mortgage in full within their tie in period or overpays more than 10% per annum on a fixed rate mortgage, they will incur early repayment charges
• Borrowing back overpayments is subject to lending criteria and a minimum drawdown of £1,000. Borrowing more will increase your client's monthly payments, interest payable and remaining balance secured on their property.

Points to consider

• Your client may wish to employ a Letting Agent and if so, we recommend they use an agent who is a member of the Association of Residential Letting Agents.
• The HM Revenue and Customs website may be able to provide your client with information on tax implications.

Next Steps

Get an online quote and apply here or call us on 0845 606 6710.

Call charges may vary.

Main Documents Frequently Asked Questions |

Supporting Information Buy to Let Underwriting Guide (PDF, 78kb) Code: SLBBUGUIDE Client ID Verification form (PDF, 69kb) Code: SLBCIV Buy to Let Mortgage Checklist (PDF, 125kb) Code: SLBBUYCH Affordability Boost Guide (PDF, 60kb) Code: SLBBUIB Benefits of Buy to Let for you and your client (PDF, 95kb) Code: SLBBTLSA

The information on this site is for qualified advisers only and must not be relied on by anyone else. If you are not an adviser you should go to our main website for information about our products and services.

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