Why securing a mortgage for buy to let properties is about to get harder

It’s been a challenging year for buy to let landlords. With changes in buy to let mortgage tax relief and affordability stress testing, it’s little wonder buy to let purchases have fallen by almost 50%. Many of those deterred from securing a mortgage for buy to let properties would have been amateur landlords, such as those purchasing a buy to let to generate additional income. For portfolio landlords, there are more challenges on the horizon.

The Prudential Regulation Authority (PRA) plans to introduce stricter underwriting standards for landlords with more than four mortgaged properties. If you’d like a further overview of the effect these changes will have on landlords, check out our analysis here.

However, borrowers aren’t the only group who will be affected by this. Tougher underwriting standards mean lenders will therefore need more information during the application process. Although some lenders will be using external software to deal with the extra admin, other lenders have indicated they will pass this work on to buy to let brokers.

How long will a mortgage for buy to let properties take?

This will have a knock-on effect on the amount of work brokers are able to do, and the speed at which they can resolve cases. Different lenders will have different policies—and brokers could be expected to work across these policies, with a solid understanding of each. This could place a huge time pressure on brokers, increasing how long a mortgage for buy to let properties takes. This may even lead some brokers to withdraw from buy to let broking.

At Enness, we retain our commitment to providing unparalleled levels of customer service—but there’s no denying the PRA changes will make working on portfolio landlord mortgage applications more challenging.

If possible, I would advise landlords who are considering remortgaging to contact us as soon as possible to discuss your options. Buy to let remortgage transactions have risen over the last few months; interest rates are currently very low, so landlords are motivated by both cheap borrowing and the prospect of a more difficult application process.

By Anna Thompson – Associate at enness.co.uk

Enness Private

We arrange large mortgages secured against international property for global individuals.

You May Also Enjoy

Home and Living

Best Budget Smartphones Under $200

In the rapidly advancing digital era, it’s no longer a luxury but a necessity to have a smartphone. Not everyone however needs or is able to pay hundreds of dollars for an expensive device. The good news is that there are numerous budget smartphones under $200 that provide great performance, decent cameras, and a long…
Read More
Rightmove logo
Breaking News

Ten years on: More first-time buyers moving to cities while the coast stands still

New ten-year analysis of the property market shows that more first-time buyers are looking to move to cities, while the coast has seen no growth in new buyers First-time buyer demand to move to Great Britain’s 50 largest cities (excluding London) is up by 16% on average over the last ten years, with Dundee topping…
Read More
Breaking News

Homeowners in England and Wales overvalue their properties by an average of 16%

Homeowners in England and Wales are overestimating the value of their property by an average of 16%, according to new figures. Data from Quick Move Now compares homeowner estimates with formal estate agent valuations and is broken down by both region and property type. Overall, homeowners overvalue in every single category.   Regional breakdown Region…
Read More
Visual blemishes on Roads due to service upgrades
Estate Agent Talk

Emergency Sidewalk Repairs: When to Act and Who to Call

Sidewalks are the unsung heroes of city infrastructure—quietly assisting tens of millions of footsteps every day. But when they crack, disintegrate, or shift all of sudden, they might quickly turn out to be volatile liabilities. In a town like New York, in which pedestrian site visitors are constant and belongings proprietors are legally chargeable for…
Read More
Breaking News

Reapit report reveals agents’ long-term market confidence amid legislative challenges

Despite the significant challenges posed by a shifting economic landscape and the largest wave of housing legislation in decades, estate and letting agents remain steadfast in their confidence about their long-term future in the industry. According to the first Reapit Property Outlook Report 2025, covering the full breadth of sales and lettings agency opinion countrywide,…
Read More
Breaking News

Owner-Occupiers Drive Resilient Commercial Property Market

Buying Becomes 37% Cheaper Than Renting The latest Commercial Property Demand Index from specialist property finance expert, Rangewell, reveals that while investor appetite across the sector held steady in Q2, strong levels of owner-occupied commercial mortgage activity are helping drive market performance, as business owners increasingly move from renting to buying their long-term premises for…
Read More