There is actually no limit to the number of Buy to Let properties that you can own and many people now have a number of properties in order to generate income on a professional basis.
There are however some restrictions that lenders may impose, relating to the size of the Portfolio with them or indeed your total holdings. Typically, most mainstream lenders will be comfortable if you have a maximum of 10 properties overall with no more than 3 or 4 with them. There may also be a cap on the total borrowing of say £2m or £5m.
Borrowers with over 3 properties are normally treated as “Portfolio Landlords” and the lender underwriting will be more detailed. In this situation, a full analysis of the total portfolio is carried out to meet the lender’s requirements regarding affordability across all the properties. Income tax assessments will normally be required to support the declared rental income, together with copies of Tenancy Agreements.
You may be in a situation where you have a number of personal Buy to Let properties and you are now looking at moving forward with a Limited Company for future business.
By going through all the information with our specialist Buy to Let team for the application is made, the process can be relatively painless.