How to Switch Your Mortgage to Buy-to-Let

Whether you're relocating, upsizing, or looking to turn your current home into an income-generating property, switching your mortgage to buy-to-let (BTL) can be a smart move. But it’s not as simple as just finding a tenant and collecting rent. Here's what you need to know before making the switch.

What Does Switching to Buy-to-Let Mean?

Switching means moving from a residential mortgage (used for homes you live in) to a buy-to-let mortgage, which is specifically designed for rented properties. This change needs your lender’s approval and might involve new terms, rates, or even a new mortgage product.

Option 1: Consent to Let

If you're only renting out your home for a short period (e.g. relocating temporarily), your lender may offer "consent to let" on your current residential mortgage.

• Usually valid for 6 to 12 months
• May involve a fee or a slightly higher interest rate
• Doesn’t require switching to a full BTL mortgage

This is a good short-term solution, but not ideal if you plan to rent long-term.

Option 2: Remortgage to Buy-to-Let

If renting your property is a long-term plan, you’ll likely need to remortgage to a dedicated buy-to-let product.

What Lenders Usually Require:

• A rental income that covers 125% to 145% of the mortgage payments
• A deposit or equity of at least 20-25%
• A good credit history and financial stability
• Sometimes, personal income checks too

You may also face different mortgage fees and interest rates compared to residential products.

Considerations Before Switching

• Early Repayment Charges (ERCs): If you're mid-deal on your current mortgage, check whether switching will incur ERCs.
• Permission Required: Never rent out your home without informing your lender – it can breach your mortgage terms.
• Landlord Responsibilities: Switching means complying with landlord regulations – including safety certificates, deposit protection, and insurance.

Why People Switch

• Moving home but keeping the current property as an investment
• Inheriting a property and wanting to rent it out
• Long-term relocation abroad or within the UK

how we can help

Our advisors guide you through every step of the switch, from checking your current deal to finding the most competitive BTL mortgage for your new plans.

Whether you need consent to let or a full remortgage, we’re here to make it easy and stress-free.

📞 Call us on 01225 962456
📧 Email us at enquiries@windsorhillmortgages.co.uk