- UK wide advice
- 0330 00 22344
- natalie@steelcitymortgages.co.uk
(Helping Council Tenants Own Their Homes With Expert Mortgage Advice)
Request a callback from a buy‑to‑let mortgage advisor today and discover the best financing options for your investment property.
*Initial consultations are always free. If fees apply for mortgage arrangements, they’ll be discussed transparently.
I’m Natalie Ellis, founder of Steel City Mortgages and a proud Sheffield local with over 22 years of experience helping homeowners and landlords. I understand that investing in property can feel daunting — deposits are larger, rules are stricter and the tax landscape is always changing.
That’s why my team specialises in guiding landlords through every stage: from assessing rental yields and securing the right mortgage to explaining your legal responsibilities as a landlord. With strong connections to local estate agents, surveyors and lenders, you’ll always have someone in your corner.
A buy‑to‑let mortgage is a loan designed for people who purchase property to rent out rather than live in it. Unlike residential mortgages, which are based mainly on your personal income, buy‑to‑let loans are assessed on the potential rental income the property can generate. Lenders consider these loans higher‑risk and therefore expect:
Buy‑to‑let investors fall into three broad groups
Each has different goals, but all must meet stricter criteria than residential borrowers.
To qualify for a buy‑to‑let mortgage, lenders usually expect you to:
Some lenders may also cap the number of properties you can finance with them. For example, NatWest/RBS allows up to 4 buy‑to‑let properties with aggregated borrowing less than £3.5 million. If you plan to build a portfolio, we can recommend lenders that support portfolio landlords and limited‑company structures.
✅ Not sure if you’re eligible? Contact us — we’ll review your tenancy details and guide you.
You might not qualify if:
Most buy‑to‑let mortgages are interest‑only. You pay just the interest each month, keeping repayments low and maximising cash flow. At the end of the mortgage term you must repay the capital in full – typically by selling the property, remortgaging or using other funds.
Lenders assess affordability using a stress‑test rate, often higher than the product rate, to ensure you can withstand interest rate rises or void periods. They’ll also conduct a valuation to estimate rental income and may reduce the loan amount if the valuer thinks the property won’t achieve the expected rent.
Interest‑only isn’t your only option. Capital‑repayment buy‑to‑let mortgages are available and suit landlords who prefer to build equity gradually. They cost more each month but you’ll owe less at the end of the term. In either case, consider fixed vs variable rates and how long you plan to hold the property.
Buying and running a rental property comes with upfront and ongoing costs:
How to Apply for a Buy‑to‑Let Mortgage? Our advisors will walk you through the step-by-step process, estimate your cash flow and help you decide whether the investment stacks up.
Most offers are issued within 4–6 weeks, with completion a further 4 weeks later if all goes smoothly
Already own one or more buy‑to‑let properties? We can help you remortgage to release equity, expand your portfolio or switch to a more competitive rate. For larger portfolios, we’ll discuss lender exposure limits and more sophisticated products.
Buy‑to‑let isn’t the only way to invest in property. Depending on your situation, we may discuss:
Our independent advice ensures you’re aware of all suitable options, not just standard buy‑to‑let mortgages.
Steel City Mortgages is proud to help landlords in Sheffield and across the UK build profitable portfolios. Whether you’re a first‑time investor or an experienced landlord seeking to refinance, we’re here to provide honest guidance and personalised mortgage solutions.
Get your buy‑to‑let mortgage advice today — it’s quick, friendly and obligation‑free.
Access a wide range of options
Our free mortgage advisor-matching service guarantees you will be matched with a mortgage advisor who will offer advice from a wide range of lenders. This means you can feel confident of being offered a robust selection of mortgage solutions available to meet your specific needs.
While we love helping first-time buyers, our expertise doesn’t stop there. When life changes, we’re still here for you:
Most lenders require at least 20–25 % of the property’s value as a deposit. Deposits of 40% or more often secure better rates. Some specialist lenders will go up to 80–85 % loan‑to‑value for experienced landlords, but rates are higher and criteria stricter.
Lenders assess affordability based on the property’s rental coverage ratio. The projected rent must typically cover 125–145% of the mortgage payment. Basic‑rate taxpayers usually require 125% coverage, while higher‑rate taxpayers may need 140–145%. Stress‑test rates are used, so the actual rent you need might be higher than your monthly mortgage payment.
Most buy‑to‑let mortgages are interest‑only, meaning your monthly payments only cover the interest and the loan balance remains unchanged. This keeps payments low but requires you to repay the capital at the end of the term — commonly by selling the property or using savings. Capital‑repayment options exist but result in higher monthly payments.
Yes, but the choice of lenders is more limited and the criteria are tougher. Some lenders insist that you already own a residential property; others accept first‑time buyers but typically require a larger deposit and stronger financial position.
Many lenders require applicants to earn £25,000 or more per year. However, some specialist lenders focus primarily on rental income and are more flexible. Even when personal income isn’t a formal criterion, lenders still look for a good credit history and low personal debt.
Expect to provide:
We’ll supply you with a personalised checklist and guide you through the paperwork.
Rental income is taxable at your marginal income tax rate. You can deduct allowable expenses such as letting‑agent fees, insurance, repairs and service charges from your taxable income. Mortgage interest is no longer fully deductible; instead you receive a basic‑rate tax credit. When buying an additional property, you’ll pay a 3% stamp duty land tax surcharge. On sale, any profit above your capital gains allowance is subject to capital gains tax.
You’re still responsible for making mortgage payments whether or not your property is let. That’s why lenders require rental coverage of at least 125–145%
and why it’s wise to set aside savings to cover void periods and maintenance costs. We help you stress‑test your investment and budget for unexpected expenses.
Yes. In 2025 all new tenancies must have an EPC rating of at least C, with existing tenancies needing to comply by the end of the year. Properties with an EPC rating of A or B may qualify for preferential ‘green mortgage’ rates. Failing to meet EPC requirements may prevent you from letting the property and could lead to fines.
Landlords must:
With access to high street lenders, building societies, and specialist providers, we offer more than what’s available on comparison sites.
Whether you’re staying with your current lender or switching, we help you choose a deal that works for you — not the bank.
For any enquiries or to get started, please complete the form below.
Steel City Mortgages Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
There may be a fee for our advice. The exact amount will depend on your circumstances but it is estimated to be £599 and will not exceed £999.
Registered Office: Steel City Mortgages Ltd, 134 Archer Road, Unit 8, Sheffield, S8 0JZ.
Registered Company Number: 10977724 Registered in England & Wales’
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For any enquiries or to get started, please complete the form below.
Steel City Mortgages Ltd is an appointed representative of Stonebridge Mortgage Solutions Ltd., Regency House Miles Gray Road Basildon Essex SS14 3FR, which is authorised and regulated by the Financial Conduct Authority.
Our Financial Services Register number is 454811. Stonebridge Mortgage Solutions Ltd.’s permitted business is advising on and arranging non‐ investment insurance and mortgages.
You can check this on the Financial Services Register by visiting the Financial Conduct Authority’s website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768. The Financial Conduct Authority is the independent watchdog that regulates financial services.
If you have a Complaint We hope that you will never have cause to complain but if you do and you wish to register a complaint, please contact our network: In writing: Stonebridge Mortgage Solutions Ltd. Regency House Miles Gray Road Basildon Essex SS14 3FR By telephone: 0345 646 5535 By email: complaints@stonebridgegroup.co.uk.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. To contact us for any other reason, please call 0345 646 5505.