Buy to Let Mortgage Information

Energy Efficient Buy to Let Mortgages

Support your clients with more energy efficient Buy to Let properties. Our Energy Efficient Buy to Let mortgages offer better rates for properties with an Energy Performance Certificate (EPC) rating of A, B, or C, available for both purchase and remortgage.

Product Eligibility

Securing one of our Energy Efficient products is as straightforward as a standard Buy to Let mortgage, so long as the property has a valid EPC rating of A, B, or C. This can be checked via the Government website or the Scottish EPC Register for Scottish properties.

Available for ICR and Top Slicing

Energy Efficient mortgages are available for both Interest Cover Ratio (ICR) and Top Slicing calculations.

Standard Buy to Let Mortgages

For properties with an EPC rating of D or E, we offer a range of standard Buy to Let mortgages.

Affordability Calculation

There are two ways to calculate your client’s affordability for any of our Buy to Let mortgages:

• Interest Cover Ratio (ICR): Uses rental income to calculate affordability
• Top Slicing: Combines rental income and personal income to boost borrowing capacity.

Both ICR and Top Slicing mortgages are available in our standard and Energy Efficient ranges.

Affordability Calculator

Use our Buy to Let affordability calculator to see how much your clients could borrow.

Agreement in Principle (AIP)

Create an AIP with a soft footprint, leaving a hard footprint only when your client is ready to proceed to a full application.

Criteria Highlights for All Buy to Let Mortgages

• Available for purchase and remortgage
• Up to 75% LTV
• Maximum individual loan amount: £750,000
• Maximum portfolio size: 3 UK Buy to Let mortgaged properties per applicant across all lenders, including Bank of Ireland Group
• Maximum value of loans from Bank of Ireland across the client’s portfolio: £2,000,000
• All Buy to Let properties must have an EPC rating of A-E (Scotland A-D), or A-C for Energy Efficient mortgages, before the valuation is carried out. In England and Wales, properties listed on the PRS Exemptions Register are also accepted.

Use our criteria lookup tool to browse more of our Buy to Let criteria, and check whether your clients and their property meet eligibility.

Additional Buy to Let Interest Cover Ratio (ICR) Criteria

• No minimum income required
• Ability to pay is assessed on rental income (received in GBP)
• Rental income must be at least 145% of the monthly interest due, inclusive of any product fees added to the loan. This is calculated using the relevant stress rate below:

Like-for-Like Buy to Let Remortgages (ICR)

For landlords remortgaging with no extra borrowing, rental income must be at least 125% of the monthly interest for ICR applications. Additional criteria:

• Minimum loan size: £100,000 (exclusive of any product fees)
• Rental income must be at least 125% of the monthly interest due, inclusive of any product fees added to the loan. This is calculated using the relevant stress rate above.

Additional Buy to Let Top Slicing Criteria

• Rental income must be at least 100% of the monthly interest due, inclusive of any product fees added to the loan. This is calculated using the applicable stress rate shown in the table above
• Minimum household income: £40,000
• Minimum property value: £100,000
• Maximum of 4 applicants, all living at the same residential address, with at least 1 homeowner.

Let to Buy

Let to Buy allows clients to let out their existing property to purchase a new residential property. Standard Buy to Let criteria apply for both ICR and Top Slicing mortgages.

Information we'll need for Let to Buy:

• Address and purchase price of the new property
• Amount of the new mortgage and the monthly mortgage payment
• Full breakdown of how the loan is being used (e.g., deposit, fees, improvements).