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If you’re starting to rent or adding to your rentals in Jersey, Guernsey, Alderney, the Isle of Man, or in the UK we can help you find the right Buy to Let mortgage.
This product is designed for customers living in the Channel Islands or the Isle of Man and is provided by Lloyds Bank Corporate Markets plc a wholly owned subsidiary of Lloyds Banking Group plc.
Information on our mortgages for customers in the United Kingdom.
You can apply for a Buy to Let mortgage if:
Lending is at the Bank’s discretion and you must be 18 or over and resident in Jersey, Guernsey, Alderney or the Isle of Man to apply. Security will be required.
Have a chat with one of our experts to see if you can apply for a Buy to Let mortgage. If approved, they’ll let you know how much you could borrow. This is a free service and you do not have to apply for your mortgage with us.
Book an appointment to get started.
To help us find the right deal for you, bring as many of the following items as you can to your meeting:
About you
Your residential mortgage
Your rental properties and finances
Tenants - think carefully about the type of tenant you want to attract e.g. young professionals, families or sharers. This will help you to decide on the type of property you buy and its location. The property should be let based on the equivalent of an assured shorthold tenancy agreement. This should be for 6-month min and 12-month max period.
Location - do your research and visit different areas. Location will often affect the type of tenant you will let to. You don’t have to buy close to your own home. Think about in-demand areas which might attract more renters. Once you've chosen an area, think about what’s nearby e.g. transport links, parking, shops and schools. Pick the brains of letting agents for information about areas where properties may be easier to rent.
Condition of the property - if you're buying a property that needs work, you might find this will limit the amount you can borrow. It could also delay how quickly you can let the property out. Think: can you afford the mortgage payments during the renovation period?
Rental income - Talk to local letting agents and look on letting websites. You can check the local press to see how much other rentals cost. The mortgage valuation will have an estimate of the rental income for your property. This will be on an unfurnished basis. But, there are no guarantees of what rental income you will get or if the property will rise in value over time.
As a landlord, it’s your job to make sure your property is safe and liveable. Each jurisdiction has its own rules, so you will want to take independent advice from a local lawyer or agency.
A tenancy agreement is a contract between you, the landlord, and your tenant. You’ll most likely have an Assured Shorthold Tenancy agreement (AST). This will provide limited security of tenure to the tenant.
Although the content of your agreement may vary, it should include the following information:
The rules can vary according to jurisdiction, so make sure you seek local advice. The agreement is signed by the tenant and the letting agent, or the landlord if no agent is involved. It can later be changed if both parties agree. We recommend you seek advice from a letting agent or independent legal advice on the terms of the proposed tenancy agreement.
Your tenant’s deposit is paid to you at the start of a tenancy. You can use it to pay for missing items or any damage caused by the tenant.
These schemes protect your tenant’s deposit. You’ll need to place your tenant’s deposit in a scheme soon after your receive it. Check the government’s website in the jurisdiction of your property for more detail.
It’s important you use the right insurance for your Buy to Let property.
Standard property insurance policies don’t normally pay out when a property is let. You’ll need to arrange landlord insurance instead.
Landlord insurance is a specialist policy that covers landlords against a range of effects. As well as insuring the building and any contents that belong to you, these policies often provide legal cover. This may help with the legal costs of tenant disputes. They can also include:
Tenants are responsible for insuring their own personal possessions.
You will have some responsibility for the upkeep of your property. However, this will differ for each jurisdiction. Seek local advice to find out the right information for you.
If you want to end a tenancy or evict a tenant, you’ll have to follow a strict process. This process differs for each jurisdiction. Seek local advice to find out the right information for you.
Buy-to-Let properties in the UK must meet a minimum energy efficiency standard. Check the government’s website in the jurisdiction of your property for more detail.
For independent tax advice you should speak to an accountant about the implications of a buy to let mortgage.
The Bank conducts its business in accordance with local legal and regulatory requirements, including anti-money laundering requirements which require the Bank to disclose information that would otherwise be confidential in circumstances where the Bank suspects its customer is benefiting or engaging in criminal activity including tax fraud.