How many buy-to-let mortgages can I take out with one lender?

How many buy-to-let mortgages can I take out with one lender? I have one property at the moment and I am considering another. Should I ask my current buy-to-let lender or is it better to spread it out and get another one?

All lenders set different limits on the number of mortgages you can have with them - it depends upon their appetite for risk. Many of the mainstream buy to let lenders set a limit of around three to five mortgaged properties (or maximum borrowing amount with them, i.e. £1m).

Some lenders even set limits on the number of buy to let mortgages you can have with other lenders! To make matters more complicated, next year, new regulation will mean that lenders will have a duty to look more closely at whether a landlord who already has three mortgages can afford to take on another one.

My advice therefore, would be for you to talk to an experienced buy to let broker about how best to proceed as your existing lender may not be the most suitable option for you.

 

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