Applicant

Number of Applicants

Four. For Limited Company application details of up to four directors or shareholders as applicants will be captured. The applicants must cover a minimum of 75% of total shareholding.

Minimum age

21 years at application.

Maximum age

80 years at application, 95 years at end of term.

Applicants (including any Directors) older than 80 years at the end of the mortgage term should have a clear succession plan in place. Please provide confirmation of this.

Nationality

Applications from UK nationals and EEA member states must be traceable at a UK address. We will not lend to applicants who are not UK nationals and do not reside in the UK.
Skilled Worker or Health & Care VISA accepted with the following criteria:
- A minimum of 1 years residency in the UK A valid UK Skilled Worker (formerly tier 2 VISA) or Health & Care VISA
- A minimum of 6 months remaining on the VISA at application.
- Maximum of 75% LTV
Diplomatic immunity is not allowed.

Acceptable proof of ID and address

If we are unable to verify all applicants using Electronic ID, proof of ID and residency will be required for each applicant. 

Impaired credit

Please refer to the product guide for product credit profile criteria. Credit profile refers to the individual personal applicants.

Consumer buy-to-let

We cannot accept applications for consumer buy-to-let. Prior to submitting an application, the Intermediary is required to establish and confirm that the application is not a consumer buy-to-let.

First-time landlord

First time buyers are not permitted. At least one applicant or Director must have owned and still own at least one residential property for a minimum of 12 months. Maximum loan amount for First Time Landlords £500,000.

Additional Support Requirements

The Additional Support Requirements form should only be submitted where applicable to ensure TML can provide any support required to applicants. It will not impact the outcome of an application.

Prior Residential Use

Applications to remortgage a main residence including inherited properties to a Buy to Let are not accepted unless they satisfy property has been let for 12 months prior to application, has been vacated for 24 months and satisfies the below criteria:
- The applicant must have vacated the property for a minimum period of 24 months prior to application.
- The property must have been rented out for a minimum of 12 months, with rental proof required where applicable.
- Applications must be submitted via an intermediary; direct applications
are not permitted.
- Ex-Pats are acceptable but also subject to criteria within our BTL Ex-Pats Criteria Guide and in line with above the property must have been vacated for a minimum period of 24 months prior to application.