Portfolio mortgages for additional property purchases

Yes, portfolio re-mortgage lenders typically require additional documentation in the UK. This usually includes a full portfolio schedule, asset and liability statement, rental income evidence, and sometimes a business plan, allowing lenders to assess affordability, risk, and Loan to Value (LTV) across the entire portfolio.

Yes, a Lombard loan can be used alongside a property portfolio mortgage. It is secured against investment assets, such as shares or funds held with the lender, rather than against property. In the UK it is most commonly offered through private banking, and in some cases by high street banks. Each lender sets its own minimum loan size and the investments it will lend against. A landlord with substantial investments can use it to add to a deposit or to reduce the loan to value on the property borrowing.

Yes, where the properties are on separate mortgages a landlord can remortgage some of them and leave the others in place. The new lender assesses the properties it lends on and, for a portfolio landlord, the rest of the portfolio too, including the loans left behind. Where several properties share one facility, taking some out needs the lender's agreement on release terms, and the properties that remain have to meet its criteria. Banks and building societies apply the Prudential Regulation Authority's buy to let standards to a remortgage that adds borrowing, but not to one with no borrowing beyond the amount owed and fees (Bank of England: SS13/16). Early repayment charges on the loans being replaced are part of the cost.

It depends on the lender and the case. The lender values the properties that will secure a new loan or facility, and some lenders use a desktop or automated valuation for lower-risk properties in place of a full inspection. Where a landlord buys one property alongside an existing portfolio held with other lenders, the new lender values the property it lends on and may rely on the property schedule for the rest. What a lender asks for also turns on the portfolio's size and property types, the loan to value and whether the case is a purchase or a remortgage. A low valuation on one property can change the terms for the rest.

A portfolio landlord usually needs a property schedule showing each property's address, ownership, value, loan, lender, rent and monthly payment, a statement of assets and liabilities, a business plan and cash flow forecast, recent personal or company tax returns showing the rental income, tenancy agreements and any HMO or selective licences, and bank statements showing rent received and mortgage payments made. The Prudential Regulation Authority's buy to let standards list the portfolio, assets and liabilities, business plan and cash flows among the information a lender may ask a portfolio landlord for (Bank of England: SS13/16). Requirements vary by lender, and some lenders supply their own schedule or business plan template.