Switching from a residential mortgage to a buy to let mortgage in Cambridge is a common step for homeowners who decide to rent out their property. You may be moving to a new home but want to keep your current one as an investment, or you may be stepping into the rental market for the first time.

Whatever the reason, lenders will require you to switch to a buy to let mortgage, as a standard residential product is not designed for rental purposes.

Our mortgage advisors in Cambridge regularly support clients through this process, making sure they understand the requirements, the criteria, and the buy to let products available.

How to change your mortgage to buy to let?

Changing your mortgage involves applying for a new product with a lender that accepts this arrangement. Some people choose to remortgage with their existing lender, while others move to a new lender for better rates or more flexible terms. The process is very similar to a standard remortgage, but lenders will focus heavily on the rental potential of the property.

Your mortgage advisor in Cambridge will look at your circumstances, review your property’s rental prospects, and explain how lenders are likely to view your application.

What Criteria do I need to meet to change my mortgage to buy to let?

Affordability

Lenders want to know that the rent will comfortably cover the mortgage payments, often by 125–145%. Some may also take your personal income into account, especially if the rental figure is close to the minimum requirement.

Equity in Your Home

You will usually need a reasonable amount of equity to switch to buy to let. Lenders typically ask for at least 20–25%, though HMOs or specialist properties often require more.

Credit History

Your credit record will still be reviewed. A clean history helps secure better rates, while issues such as missed payments may limit the products available.

Type Of Property

Not every property is suitable for buy to let. Flats above shops, properties with short leases, or homes with non-standard construction can be harder to mortgage. Lenders prefer properties that are straightforward to let and resell.

Landlord Experience

Some lenders prefer applicants with prior landlord experience, though there are also products for first time landlords. Showing that you understand the responsibilities of letting a property can help strengthen your application.

Can I live in my buy to let property?

No. A buy to let mortgage is specifically designed for rental purposes, and living there yourself would breach the terms of the loan. If your circumstances change and you want to move back into the property, you would need to switch back to a residential mortgage product.

How many buy to let mortgages can I have?

There is no fixed cap on how many buy to let mortgages you can hold, but lenders set their own rules. Some restrict how many mortgages they will allow with them, while others look at the size and performance of your overall portfolio.

Factors such as affordability, the amount of equity you can provide, and your experience as a landlord will influence how far you can expand. Portfolio landlords in Cambridge often use remortgaging strategies to release equity from existing properties to fund further purchases.

Date Last Edited: October 3, 2025