Buy-to-let lenders look mainly at the rent, not your salary. The expected rent usually has to cover 125–145% of the mortgage payment, worked out at a higher "stress" interest rate, and most lenders want a deposit of at least 25%. We're whole-of-market advisers in Sheffield, working with first-time and portfolio landlords, in personal names or through limited companies.
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Looking to expand your property portfolio or start your journey as a landlord? Our expert advisors will help you secure the right buy-to-let mortgage for your investment goals.
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Investing in property requires careful planning and consideration. Here's our step-by-step guide to securing a buy-to-let mortgage and becoming a successful landlord.
Determine your investment strategy, budget, and target rental yield. Consider whether you're investing for income, capital growth, or a combination of both.
Check your credit file, gather your documents and understand how lenders will assess the rent. We'll help you prepare for the application.
Research locations with strong rental demand and potential for capital growth. Consider property types that appeal to your target tenant demographic.
We'll help you compare options from across the market to find the most competitive rates and terms suited to your investment strategy.
Set up efficient property management, understand your tax obligations, and regularly review your mortgage to ensure it remains competitive.
Most lenders work out the maximum loan from the rent. They check that the rent covers the mortgage interest by a set margin (the interest cover ratio, usually 125% to 145%), calculated at a stress rate rather than the rate you'll actually pay.
An example: a flat letting for £900 a month, assessed at a stress rate of 5.5%:
Illustration only. Stress rates and cover ratios vary by lender and by product (five-year fixes are often assessed more generously). Some lenders will also take your personal income into account to top up a shortfall.
Additional properties pay a 5% surcharge on top of the standard rates on the whole price: 5% up to £125,000, 7% from £125,001 to £250,000, and 10% from £250,001 to £925,000.
Wales and Scotland have their own taxes and surcharges. Use our stamp duty calculator.
In England and Northern Ireland, additional properties pay a 5% surcharge on top of standard stamp duty, on the whole price. On a £150,000 buy-to-let that's £8,000.
Most buy-to-let mortgages are not regulated by the Financial Conduct Authority. The exception is a consumer buy-to-let, for example where you're letting a former home or a property you've inherited, or letting to a close family member, which is regulated. We'll tell you which applies to your case, because it changes the protections you have.
There are several approaches to buy-to-let investment, each with their own advantages and considerations.
With one of the UK's largest student populations and a strong rental market across areas like Broomhill, Crookes, and Ecclesall Road, Sheffield remains a popular choice for landlords. Our Sheffield mortgage advisers work with both local landlords and investors based elsewhere in the UK who are buying property here.
Buy to let mortgage lenders require a higher deposit than a residential mortgage, and have specific assessments they make on potential borrowers. It's important to seek professional and unbiased advice when planning to take out a buy to let mortgage, whether this is your first property or will be an additional property in your portfolio.
Holiday let mortgages are assessed on the expected holiday letting income rather than a long-term rent, and most lenders want a deposit of at least 25%. We arrange many of them, particularly in the Peak District.
Houses in Multiple Occupation (HMO) are properties that are rented out to people from more than one household on a room-by-room basis. Although HMOs in general generate more income than a traditional Buy to Let property they're also more complex, too, with licensing, planning permission and a lot of legislation to comply with.
Allows landlords to finance multiple rental properties under a single mortgage facility. This approach streamlines management and can unlock better rates.
A let to buy mortgage is when homeowners rent out their existing property to tenants and use the rental income to help fund a mortgage on a new home. It’s a popular way to move without selling, but comes with added risks, specialist mortgage products, and regulatory requirements to ensure everything stays compliant.
MUFB (Multi Unit Freehold Block) mortgage refers to financing for a single freehold property split into multiple self-contained flats. It’s often more profitable than standard Buy to Let, but lenders see it as higher risk. Expect specialist criteria, larger deposits, and detailed rental income assessments to secure the right deal.
Buying through a limited company, or financing commercial or mixed-use property? Our commercial finance page covers limited company buy-to-let, commercial mortgages and development finance.
We also arrange holiday let mortgages, which lenders assess on the expected holiday letting income rather than a long-term rent, usually with a deposit of at least 25%. Many of our holiday let clients buy in the Peak District: our Peak District and Derbyshire page explains how they work and what to check before you buy.
Read our full guide to holiday let mortgages.
Our advisers are based at Beehive Works in Sheffield and work with landlords buying across the city, from student lets in Broomhill and Crookes to family homes, and with investors buying here from elsewhere in the UK. Buy-to-let advice is given by our qualified team, including Robert Wilson-Rust (Senior Mortgage and Protection Adviser), and Tiffany Taylor and Katie Stoker (Mortgage and Protection Advisers), all CeMAP qualified. Meet our Sheffield mortgage advisers.
Friends Capital have relationships with buy to let mortgage lenders. We search the whole market, including deals only available through brokers. Then we recommend the deal that is most appropriate to your circumstances. We can:
Our experienced mortgage advisers understand the challenges buy-to-let investors face and are dedicated to making your property investment journey as smooth as possible. We'll be with you every step of the way.
Reviewed by Zoe White CeMAP, Compliance Officer, Friends Capital. Last reviewed October 2026.
Our expert advisers are ready to help you find the right buy-to-let mortgage and build a successful property portfolio.
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Wondering what we charge? Buy-to-let is charged like any other mortgage: typically £795, with £295 on application and the rest on completion. See our fees in full.
