Lloyds TSB Buy to Let Mortgages

Lloyds TSB is one of the leading high street and commercial lenders in the UK, offering a range of mortgage products to homeowners, landlords and businesses. Following the acquisition of HBOS in 2009 Lloyds TSB Group plc was rebranded as Lloyds Banking Group plc and the bank became the largest retail bank in the United Kingdom.

Lloyds TSB Buy to Let mortgages are available to first time investors or those with an existing portfolio who are looking to either remortgage or increase their stock. There are a number of competitive deals on offer to applicants who satisfy the banks strict lending requirements.

Lending Requirements

Buy to Let mortgages are subject to application, but certain criteria to note are as follows:

  • The borrower should be minimum 25 years old and no older than 75 years of age when the mortgage comes to the end of its term.
  • This is not an application for your first mortgage.
  • The property should be in good condition and it should not have been divided into separate properties.
  • Your sole income, not including any existing rental income, should be at least £35,000p.a.
  • The property is to be used solely for rental purposes.
  • You must meet all the criteria of a standard Lloyds TSB mortgage.

As with the majority of other lenders, Lloyds TSB will loan up to a maximum of 75% of the property’s value. This drops to 65% of the value if the property is a new build.
Applicants who already bank with Lloyds TSB and pay more than £1000 each month into their account will benefit from better interest rates, lower fees or both.

How do I apply?

If you would like to apply for a Lloyds TSB Buy to Let mortgage then there are a number of ways you can do this.

You can start the application process online, by visiting http://www.lloydstsb.com/mortgages/buy_to_let.asp. The application form takes around 20 minutes to fill in and a mortgage advisor will arrange to call you at a mutually convenient time.

You can also speak to an advisor by calling 0800 783 35 34.

Initial mortgage application checklist

Before you start the application process make sure you have the following to hand:

  • Details of your annual income
  • Details of your bank account
  • Details of any existing mortgage (lender, account balance etc)
  • Address details for previous 3 years
  • Any outstanding financial commitments (loans, credit cards etc)

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