What is the criteria for a student Buy to Let mortgage?
The criteria for student Buy to Let Mortgages remains fairly constant as those for lender’s other forms of investment buy to let loans. A vast majority of student accommodation will be viewed as an HMO when rental assessment is taken into consideration and as such, the calculations to work out the maximum loan permitted will usually differ to that of a standard single dwelling assured shorthold tenancy (AST) Buy to Let.
Usually, a minimum deposit or amount of equity of 25% will be required however, there may be a few specialist lenders who will consider 15%. In addition, the type of property may have a bearing including if it is a conversion or purpose built accommodation.
The usual standard checks such as credit and overall financial situation will also apply in all cases.